Company sells American Depositary Shares at $1.15 via Roth Capital
By Devika Patel
Knoxville, Tenn., Sept. 8 – Medigus Ltd. said it plans to raise about $1.47 million in a registered direct offering of American Depositary Shares.
The company will sell about 1.28 million ADS. The purchase price, of $1.15 per ADS, reflects a 32.35% discount to the $1.70 closing share price on Sept. 7.
Settlement is expected Sept. 13.
Roth Capital Partners is the lead agent and Maxim Group LLC is the co-placement agent.
Proceeds will be used for general corporate purposes.
The Omer, Israel, company develops endoscopic procedures and devices.
| Issuer: | Medigus Ltd.
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| Issue: | American Depositary Shares
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| Amount: | $1.47 million
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| Shares: | 1.28 million (approximate)
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| Price: | $1.15
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| Warrants: | No
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| Agents: | Roth Capital Partners (lead), Maxim Group LLC (co-placement agent)
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| Pricing date: | Sept. 8
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| Settlement date: | Sept. 13
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| Stock symbol: | Nasdaq: MDGS
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| Stock price: | $1.70 at close Sept. 7
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| Market capitalization: | $10.9 million
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