Why EDAP Shares Are Falling Sharply

EDAP TMS SA EDAP shares are trading lower by 14.24% to $7.35 Friday morning after the company priced a roughly 2.66 million ADS public offering at $7.50 per ADS.

What Else?

EDAP says the gross proceeds from the offering, before deducting underwriting discounts and commissions and other offering expenses payable by the Company, are expected to be approximately $20,000,003.

EDAP says the closing of the offering is expected to occur on September 27th, subject to customary closing conditions.

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According to data from Benzinga Pro, EDAP has a 52-week high of $8.99 and a 52-week low of $5.00.