Medigus Ltd. (MDGS)

[midastouch017]

Medigus Announces Pricing of $1.6 Million Registered Direct


OMER, ISRAEL--(Marketwired - Nov 24, 2017) - Medigus Ltd. ( NASDAQ : MDGS ) ( TASE : MDGS ), a medical device company developing minimally invasive endosurgical tools and a leader in direct visualization technology, today announced that it has entered into definitive agreements with several institutional investors providing for the issuance of an aggregate of 810,000 American depositary shares (ADS) at a purchase price of $2.00 per ADS in a registered direct offering.

H.C. Wainwright & Co. is acting as the exclusive placement agent for this offering.

Additionally, the Company will issue to the investors unregistered warrants to purchase an aggregate of up to 405,000 ADSs. The warrants will have a term of 5.5 years, be exercisable commencing six months following the issuance date and have an exercise price of $2.25 per ADS.

The offering is expected to result in gross proceeds to Medigus of approximately $1,620,000. Medigus intends to use the net proceeds from the offering for general corporate purposes.

The closing of the sale of the securities is expected to take place on or about November 28, 2017, subject to satisfaction of customary closing conditions.