EDAP Announces Proposed Public Offering of American Depositary Shares

Rhea-AI Summary

EDAP TMS announced a public offering of its American Depositary Shares (ADSs) on September 22, 2022, with Jefferies LLC as the sole book-running manager. The offering's completion and terms are subject to market conditions, and there are no assurances regarding these aspects. A shelf registration statement effective since April 7, 2021, is in place for the offering. Investors are advised to review the preliminary prospectus supplement and associated documents before purchasing. The offering will not take place in Europe, and forward-looking statements are subject to various uncertainties.

Positive

• Public offering of American Depositary Shares initiated to potentially raise capital.
• Effective registration statement filed with the SEC for the offering.

Negative

• Market conditions are uncertain, which may impact the offering's success.
• No public offering of ADSs will occur in Europe, limiting potential market access.

LYON, France, September 22, 2022 -- EDAP TMS S.A. (NASDAQ: EDAP) (the “Company”), a global leader in robotic energy-based therapies, announced today that it has commenced a public offering of its American Depositary Shares, or ADSs, each representing one ordinary share of the Company. The proposed offering is subject to market conditions, and there can be no assurance as to whether or when the proposed offering may be completed or as to the actual size or terms of the proposed offering.

Jefferies LLC is acting as the sole book-running manager for the offering.

A shelf registration statement on Form F-3 (including a prospectus) relating to the Company’s American Depositary Shares was filed with the Securities and Exchange Commission (the “SEC”) on April 7, 2021 and is effective. The Company has also filed a base prospectus dated April 16, 2021 and a preliminary prospectus supplement dated September 22, 2022 with respect to the proposed offering. Before purchasing ADSs in the offering, you should read the preliminary prospectus supplement and the accompanying prospectus, together with the documents incorporated by reference therein. You may obtain these documents for free by visiting EDGAR on the SEC’s website at www.sec.gov. Alternatively, a copy of the preliminary prospectus supplement (and accompanying prospectus) relating to the offering may be obtained from Jefferies LLC, Attn: Equity Syndicate Prospectus Department, 520 Madison Avenue, 2^nd Floor, New York, New York 10022, by telephone at +1 (877) 821-7388 or by email at Prospectus_Department@Jefferies.com.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction. In particular, no public offering of the ADSs will be made in Europe.

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including statements regarding the Company’s proposed follow-on offering. Such statements are based on management's current expectations and are subject to a number of risks and uncertainties, including matters not yet known to us or not currently considered material by us, and there can be no assurance that anticipated events will occur or that the objectives set out will actually be achieved. Important factors that could cause actual results to differ materially from the results anticipated in the forward-looking statements include, but are not limited to, uncertainties related to market conditions, those risks relating to the offering and others described in the preliminary prospectus supplement and in particular in the sections “Forward-Looking Information” and “Risk Factors” and those risks relating to the Company’s business, which are described in the Company’s filings with the Securities and Exchange Commission and in particular in the section “Risk Factors” in the Company's Annual Report on Form 20-F. The Company undertakes no obligation to update or revise any forward-looking statements in order to reflect any event or circumstance that may arise after the date of this release, except as required by law.

Company Contact
Blandine Confort
Investor Relations / Legal Affairs
EDAP TMS SA
+33 4 72 15 31 50
bconfort@edap-tms.com

Investor Contact
John Fraunces
LifeSci Advisors, LLC
917-355-2395
jfraunces@lifesciadvisors.com

FAQ

What is the purpose of EDAP's public offering announced on September 22, 2022?

The purpose is to raise capital through the offering of American Depositary Shares (ADSs), though specific uses of the funds were not detailed.

Who is managing the EDAP offering?

Jefferies LLC is acting as the sole book-running manager for the public offering.

What is the current status of EDAP's registration for the offering?

EDAP has an effective shelf registration statement filed with the SEC since April 7, 2021.

Will EDAP's public offering include investors from Europe?

No, the public offering of ADSs will not be made in Europe.

What risks are associated with EDAP's public offering?

The company faces uncertainties related to market conditions that could impact the offering's completion and terms.