EDAP (EDAP -12%) says it's fully redeemed $8M of its outstanding long-term debt by using a...

EDAP (EDAP -12%) says it's fully redeemed $8M of its outstanding long-term debt by using a portion of the net proceeds from the $12M private placement executed on May 28. EDAP CEO Marc Oczachowski said the subsequent elimination of the 9% annual interest rate and removal of the obligation ahead of its June 2014 maturity has resulted in a "successfully streamlined" balance sheet.