Medigus Clarifies its Announcement on ScoutCam’s Private Placement
March 24 2021 - 12:46PM
Medigus Ltd. (Nasdaq: MDGS), a technology company engaged in
advanced medical solutions and innovative internet technologies,
clarified today that the previously announced $20 million private
placement was conducted by its subsidiary, ScoutCam Inc. (OTCQB:
SCTC) and not by Medigus. Medigus will hold 28% of ScoutCam
following the consummation of the private placement. The investment
represents a pre-money valuation of ScoutCam of approximately $34.2
million.
About ScoutCam
ScoutCam is a leading provider of customized
visual solutions for organizations across a variety of industries
in the form of highly resistant micro cameras and supplementary
technologies. ScoutCam devices are used across the medical,
aerospace, industrial, research and defense industries. For more
information please visit: https://www.scoutcam.com
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 Medigus’ management and
its knowledge of the relevant market. The company 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 ScoutCam’s closing of the private placement. 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. By
their nature, Forward-Looking Statements involve known and unknown
risks, uncertainties and other factors which may cause future
results of the ScoutCam’s activity to differ significantly from the
content and implications of such statements. Other risk factors
affecting Medigus and ScoutCam are discussed in detail in the
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.
Contact (for media only)Oz Adler Chief Financial Officer
+972-8-6466-880 ir@medigus.com
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