EDAP TMS $23 million follow-on offering
The ADSs are listed on the Nasdaq Global Market
We advised the sole book-running manager in connection with the $23 million public offering by EDAP TMS S.A. of 3,066,667 American Depositary Shares (which includes the exercise in full by the underwriter of its over-allotment option to purchase up to 400,000 additional ADSs), each representing one ordinary share. The ordinary shares, represented by ADSs, are listed on the Nasdaq Global Market under the symbol “EDAP.”
Based in France, EDAP develops and markets robotic high intensity focused ultrasound devices, advanced choices for use in the treatment of localized prostate cancer. It also produces and commercializes medical equipment for the treatment of urinary tract stones using extracorporeal shockwave lithotripsy, and distributes other types of urology devices in certain countries.
The Davis Polk corporate team included partner Alan F. Denenberg and associates Paula Gergen and Rong (Fiona) Huang. Partner Jacques Naquet-Radiguet and associate Ferdinand Barbé provided French law advice. Partner Frank J. Azzopardi and associate Alexis N. Wallace provided intellectual property advice. Partner Ethan R. Goldman provided tax advice. Members of the Davis Polk team are based in the Northern California, New York and Paris offices.