EDAP TMS S.A. Secures €36 Million Credit Facility for Robotic Medical Technology Development

EDAP TMS S.A. has entered into a €36 million credit facility agreement with the European Investment Bank (EIB) to fund its research and development projects in robotic medical technology. The facility is divided into three tranches: Tranche A (€11 million), Tranche B (€12 million), and Tranche C (€13 million), each with specific disbursement conditions. The funds will be used to advance the company's high-intensity focused ultrasound technology for treating conditions like prostate cancer and endometriosis. The credit facility includes warrants issued to EIB, with interest rates of 8% for Tranche A, 7% for Tranche B, and 6% for Tranche C. The agreement also outlines various conditions for disbursement, including revenue thresholds, regulatory milestones, and manufacturing achievements. The facility is subject to immediate repayment under certain events, such as a change of control or default.