Medigus Prices $8.4Million Underwritten Public Offering of American Depositary Shares
12 January 2021 - 12:21AM
Medigus Ltd. (Nasdaq, TASE: MDGS), a technology company engaged in
advanced medical solutions and innovative internet technologies,
today announced the pricing of an underwritten public offering of
3,659,735 American Depositary Shares (the “ADSs”). Each ADS is
being sold to the public at a price per ADS of $2.3. 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. The offering is expected to close on or about
January 13, 2021, subject to customary closing conditions.
Aegis Capital Corp. is acting as sole bookrunner for the
offering.
This offering is being 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 will
be filed with the SEC and will be available on the SEC’s website
located at http://www.sec.gov.
Electronic copies of the final prospectus, when
available, 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. Before investing in this offering, interested
parties should read in their entirety the final prospectus, which
provides more information about the Company and such offering.
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 timing of the closing of the offering and
the intended use of proceeds from such offering. 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)
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