Medigus Closes $8.4 Million Underwritten Public Offering of American Depositary Shares
January 13 2021 - 9:13AM
Medigus Ltd. (Nasdaq, TASE: MDGS) (“Medigus” or “the Company”), a
technology company engaged in advanced medical solutions and
innovative internet technologies, today announced the closing of an
underwritten public offering of 3,659,735 American Depositary
Shares (the “ADSs”). Each ADS was sold to the public at a price per
ADS of $2.30. The gross proceeds to the Company from this offering
are expected to be approximately $8.4 million before deducting
underwriting discounts and commissions and other estimated offering
expenses payable by the Company.
The Company intends to use the net proceeds from
this offering for working capital and general corporate
purposes.
The Company has also granted the underwriter an
option to purchase an additional 15 percent of the ADSs offered in
the public offering solely to cover over-allotments, if any,
exercisable until the earlier of 30-days or the last day of trading
of the Company’s ordinary shares on the Tel-Aviv Stock Exchange
prior to their delisting which would increase the total gross
proceeds of the offering to approximately $9.6 million, if
exercised in full.
Aegis Capital Corp. acted as sole bookrunner for the
offering.
This offering was made pursuant to an effective
registration statement on Form F-3 (No 333-238162) previously filed
with the U.S. Securities and Exchange Commission (the “SEC”) and
declared effective by the SEC on May 15, 2020. A final prospectus
describing the terms of the proposed offering has been filed with
the SEC and is available on the SEC’s website located at
http://www.sec.gov.
Electronic copies of the final prospectus may be
obtained by contacting Aegis Capital Corp., Attention: Syndicate
Department, 810 7th Avenue, 18th floor, New York, NY 10019, by
email at syndicate@aegiscap.com, or by telephone at (212)
813-1010.
This press release shall not constitute an offer
to sell or the solicitation of an offer to buy nor shall there be
any sale of these securities in any state or jurisdiction in which
such offer, solicitation or sale would be unlawful prior to
registration or qualification under the securities laws of any such
state or jurisdiction.
About Medigus
Medigus is traded on the Nasdaq Capital Market and the TASE (Tel
Aviv Stock Exchange). To learn more about the Company's advanced
technology, please visit www.medigus.com.
Cautionary Note Regarding Forward Looking
Statements
This press release may contain statements that
are “Forward-Looking Statements,” which are based upon the current
estimates, assumptions and expectations of the Medigus’ management
and its knowledge of the relevant market. Medigus has tried, where
possible, to identify such information and statements by using
words such as “anticipate,” “believe,” “envision,” “estimate,”
“expect,” “intend,” “may,” “plan,” “predict,” “project,” “target,”
“potential,” “will,” “would,” “could,” “should,” “continue,”
“contemplate” and other similar expressions and derivations thereof
in connection with any discussion of future events, trends or
prospects or future operating or financial performance, although
not all forward-looking statements contain these identifying words.
For example, Medigus uses forward looking statements when
describing the proposed use of proceeds. These
forward-looking statements represent Medigus’ expectations or
beliefs concerning future events, and it is possible that the
results described in this press release will not be achieved, due
to inter alia the spread of COVID-19 as well as the restriction
deriving therefrom. By their nature, Forward-Looking Statements
involve known and unknown risks, uncertainties and other factors
which may cause future results of Medigus activity to differ
significantly from the content and implications of such statements.
Other risk factors affecting Medigus are discussed in detail in
Medigus’ filings with the Securities and Exchange Commission.
Forward-Looking Statements are pertinent only as of the date on
which they are made, and Medigus undertakes no obligation to update
or revise any Forward-Looking Statements, whether as a result of
new information, future developments or otherwise. Neither Medigus
nor its shareholders, officers and employees, shall be liable for
any action and the results of any action taken by any person based
on the information contained herein, including without limitation
the purchase or sale of Medigus’ securities. Nothing in this press
release should be deemed to be medical or other advice of any
kind.
Investor Contact
Tatiana YosefChief Financial
Officer+972-8-6466-880ir@medigus.com
Medigus (NASDAQ:MDGS)
Historical Stock Chart
From Apr 2024 to May 2024
Medigus (NASDAQ:MDGS)
Historical Stock Chart
From May 2023 to May 2024