EDAP TMS’s $28 Million Public Offering

EDAP TMS's $28 Million Public Offering

Davis Polk advised the underwriters in the offering, while Jones Day advised EDAP.

EDAP TMS S.A. executed its $28 million public offering of 4,150,000 American depositary shares, each representing one ordinary share. The ordinary shares, represented by ADSs, are listed on the Nasdaq Global Market under the symbol “EDAP.”

Piper Sandler acted as the sole book-running manager for the offering. B. Riley Securities and Lake Street Capital Markets acted as co-managers for the offering.

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 associate Ganiatu Afolabi. Partner Jacques Naquet-Radiguet and associates Stéphane Daniel and Johann Jabes provided French law advice. Partner Frank J. Azzopardi and associate Hilary Smith provided intellectual property advice. Counsel Ethan R. Goldman and associate Ben Levenback provided tax advice. 

Jones Day advised EDAP TMS with Linda Hesse and Florent Bouyer (partner), Natalia Sauszyn (of counsel), Juliette Macé and Guillaume Monnier (associates).

Involved fees earner: Ganiatu Afolabi – Davis Polk & Wardwell; Frank Azzopardi – Davis Polk & Wardwell; Stéphane Daniel – Davis Polk & Wardwell; Alan Denenberg – Davis Polk & Wardwell; Ethan Goldman – Davis Polk & Wardwell; Johann Jabes – Davis Polk & Wardwell; Ben Levenback – Davis Polk & Wardwell; Jacques Naquet-Radiguet – Davis Polk & Wardwell; Hilary Smith – Davis Polk & Wardwell; Florent Bouyer – Jones Day; Linda Hesse – Jones Day; Juliette Macé – Jones Day; Guillaume Monnier – Jones Day; Natalia Sauszyn – Jones Day;

Law Firms: Davis Polk & Wardwell; Jones Day;

Clients: B. Riley Securities; EDAP TMS; Lake Street Capital Markets LLC; Piper Sandler;