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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.
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Comments (2)
  • rwpauli
    , contributor
    Comments (7) | Send Message
     
    The redemption is positive and was announced in the company's previous release on May 29th. The negative here is that they in effect said "Oh, by the way, we are delayed until some time next year. Chao." They should not have suborned this information in so casual a manner. It was the elephant in the room, not the payoff of the debt. We expect more insightful leadership.
    15 Jun 2013, 09:32 AM Reply Like
  • Big Bit
    , contributor
    Comments (2) | Send Message
     
    why are they delayed until some time next year ? I thought they said earlier that it would be later this summer!! what going on??
    16 Jun 2013, 01:59 PM Reply Like
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