Soleus Capital Amends EDAP TMS Stake, Files SC 13G/A

TL;DR

**Soleus Capital just updated their EDAP TMS stake, watch for market reaction.**

AI Summary

Soleus Capital Master Fund, L.P. filed an Amendment No. 4 to Schedule 13G on February 2, 2024, indicating a change in their beneficial ownership of EDAP TMS S.A. ordinary shares as of December 31, 2023. This filing, under Rule 13d-1(c), updates their previous disclosures regarding their stake in the company. This matters to investors because it provides transparency into significant institutional holdings, which can influence stock price and signal confidence (or lack thereof) in the company's future.

Why It Matters

This filing updates the public on Soleus Capital's beneficial ownership in EDAP TMS S.A., offering insight into a major institutional investor's position, which can impact market perception and trading activity.

Risk Assessment

Risk Level: low — This is a routine amendment filing, not indicating any immediate high-risk event for the company.

Analyst Insight

Investors should review the full Schedule 13G/A to understand the exact change in Soleus Capital's beneficial ownership percentage and consider its implications for institutional confidence in EDAP TMS S.A. stock.

Key Numbers

• 005-53365 — SEC File Number (identifies EDAP TMS S.A.'s registration with the SEC)
• 268311107 — CUSIP Number (unique identifier for EDAP TMS S.A.'s American Depositary Shares)
• Amendment No. 4 — Filing Amendment Number (indicates this is the fourth update to Soleus Capital's Schedule 13G for EDAP TMS S.A.)
• €0.13 — Nominal Value per Share (the stated value of EDAP TMS S.A. ordinary shares)

Key Players & Entities

• Soleus Capital Master Fund, L.P. (company) — the entity filing the SC 13G/A amendment
• EDAP TMS S.A. (company) — the subject company whose securities are being reported
• Guy Levy (person) — a group member associated with Soleus Capital
• Soleus Capital Group, LLC (company) — a group member associated with Soleus Capital
• December 31, 2023 (date) — the date of the event which required the filing

Forward-Looking Statements

• EDAP TMS S.A. stock price will experience minor volatility due to this filing. (EDAP TMS S.A.) — low confidence, target: February 9, 2024

FAQ

Filing Documents

• ea192412-13ga4soleus_edaptms.htm (SC 13G/A) — 151KB
• 0001213900-24-009366.txt ( ) — 153KB

If this statement is filed

Item 3. If this statement is filed pursuant to §§240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is a: (a) Broker or dealer registered under section 15 of the Act (15 U.S.C. 78o). (b) Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c). (c) Insurance company as defined in section 3(a)(19) of the Act (15 U.S.C. 78c). (d) Investment company registered under section 8 of the Investment Company Act of 1940 (15 U.S.C 80a-8). (e) An investment adviser in accordance with §240.13d-1(b)(1)(ii)(E); (f) An employee benefit plan or endowment fund in accordance with §240.13d-1(b)(1)(ii)(F); (g) A parent holding company or control person in accordance with § 240.13d-1(b)(1)(ii)(G); (h) A savings associations as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813); (i) A church plan that is excluded from the definition of an investment company under section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3); (j) A non-U.S. institution in accordance with §240.13d-1(b)(1)(ii)(J). (k) Group, in accordance with §240.13d-1(b)(1)(ii)(K). If filing as a non-U.S. institution in accordance with §240.13d-1(b)(1)(ii)(J), please specify the type of institution:

Ownership

Item 4. Ownership. Reference is made to Items 5 – 11 on the preceding pages of this Schedule 13G. As of December 31, 2023, Master Fund holds an aggregate of 5,826,341 Ordinary Shares (represented by 5,826,341 ADS), representing approximately 15.8% of the issued and outstanding Ordinary Shares as of such date. 10 As the general partner of Master Fund, Soleus Capital, LLC may be deemed to have shared power to vote or to direct the vote and to dispose or to direct the disposition of the securities held by Master Fund. As the sole managing member of Soleus Capital, LLC, Soleus Capital Group, LLC may be deemed to have shared power to vote or to direct the vote and to dispose or to direct the disposition of the securities held by Master Fund. As the sole managing member of Soleus Capital Group, LLC, Mr. Guy Levy may be deemed to have shared power to vote or to direct the vote and to dispose or to direct the disposition of the securities held by Master Fund. As of December 31, 2023, Soleus PE holds an aggregate of 1,400,000 Ordinary Shares (represented by 1,400,000 ADS), representing approximately 3.8% of the issued and outstanding Ordinary Shares as of such date. As the sole general partner of Soleus PE, Soleus GP may be deemed to have shared power to vote or to direct the vote and to dispose or to direct the disposition of the securities held by Soleus PE. As the sole manager of Soleus GP, Soleus PE GP III, LLC may be deemed to have shared power to vote or to direct the vote and to dispose or to direct the disposition of the securities held by Soleus PE. As the sole managing member of Soleus PE GP III, LLC, Mr. Guy Levy may be deemed to have shared power to vote or direct the vote and to dispose or to direct the disposition of the securities held by Soleus PE. Neither the filing of this Schedule 13G nor any of its contents shall be deemed to constitute an admission that Mr. Levy, Soleus Capital, LLC, Soleus Capital Group, LLC, Soleus Private Equity GP III,

View Full Filing

View this SC 13G/A filing on SEC EDGAR