Medigus Announces Proposed Underwritten Public Offering of American Depositary Shares
February 24 2021 - 8:01PM
Medigus Ltd. (Nasdaq: MDGS) (the “Company”), a technology company
engaged in advanced medical solutions and innovative internet
technologies, today announced that it intends to offer its American
Depositary Shares (“ADSs”) for sale in an underwritten public
offering. In addition, the Company expects to grant 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 for 45 days, but not to close after March 31, 2021
unless the Company has filed its annual report on Form 20-F with
the SEC before that date. The Company intends to use the net
proceeds from this offering for working capital and general
corporate purposes. The offering is subject to market conditions,
and there can be no assurance as to whether or when the offering
may be completed, or as to the actual size or terms of the
offering.
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, and a preliminary
prospectus supplement relating to the offering will be filed with
the SEC and, once filed, will be available on the SEC's website at
http://www.sec.gov.
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. 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 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:
Oz AdlerChief Financial Officer+972-8-6466-880ir@medigus.com
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