latest news releases from the newsroom
EDAP TMS SA
EDAP Receives FDA Permission to Amend Ongoing Ablatherm-HIFU U.S. Clinical Study Protocol
LYON, France, March 10, 2009 (GLOBE NEWSWIRE) -- EDAP TMS SA (Nasdaq:EDAP), the global leader in therapeutic ultrasound, announced today that the U.S. Food and Drug Administration (FDA) approved the following protocol amendments for the Company's ongoing U.S. clinical study of Ablatherm-HIFU (high intensity focused ultrasound) for the treatment of patients with localized prostate cancer:
PAB Bankshares, Inc.
PAB Bankshares, Inc. Announces $10.3 Million Private Placement of Capital
VALDOSTA, Ga., March 10, 2009 (GLOBE NEWSWIRE) -- PAB Bankshares, Inc. (Nasdaq:PABK), the parent company for The Park Avenue Bank, announced today that it has entered into investment agreements with certain investors for the purchase of approximately $10.3 million of a newly-created class of preferred stock. Subject to receipt of shareholder approval, the preferred stock will be convertible into shares of the Company's common stock, and upon conversion, the investors will receive warrants to purchase additional shares of common stock equal to 30% of the aggregate value of the preferred stock. The common stock conversion price is $3.00 per share. The issuance of the preferred stock is conditional upon the Bank achieving a total risk-based capital ratio of 12.0% (exclusive of this issuance), and the funds will be held in an escrow account until the transaction is closed. The majority of the investors are directors, their related affiliates, and executive officers of the Company. Sandler O'Neill & Partners, L.P. served as the financial advisor and Troutman Sanders LLP provided legal advice to the Company in this transaction.