Medigus Filed a $3 Million Buyback Program
Medigus Ltd. (Nasdaq: MDGS) has filed a motion for court approval to increase its buyback program from $2 million to $3 million. This buyback initiative aims to enhance shareholder value and is expected to begin in Q1 2022, contingent upon court approval. The company is involved in advanced medical solutions and innovative technologies, with affiliations in digital commerce and electric vehicle sectors. The successful implementation of the buyback could positively impact stock performance by reducing available shares.
- Increased buyback program from $2 million to $3 million may enhance shareholder value.
- Buyback program expected to commence in Q1 2022, contingent upon court approval.
- Court approval for the full $3 million buyback amount is uncertain, posing risks to the implementation of the program.
Tel Aviv, Israel, Dec. 01, 2021 (GLOBE NEWSWIRE) -- Medigus Ltd. (Nasdaq: MDGS), a technology company engaged in advanced medical solutions, innovative internet technologies and electric vehicle and charging solutions, today announced it had filed a motion seeking a court approval for a capital reduction of up to
Contingent upon court’s approval the buyback program will initiate during the first quarter of 2022.
About Medigus
Based in Israel, Medigus Ltd. (Nasdaq: MDGS) is a technology company focused on innovative growth partnerships, mainly in advanced medical solutions, digital commerce and electric vehicle markets. Medigus' affiliations in the medical solutions arena include ownership in Polyzion Ltd. and ownership in industry 4.0 company, ScoutCam Inc. The Company’s affiliates in digital commerce include Gix Internet Ltd., Jeffs' Brands Ltd. and Eventer Technologies Ltd. In the electric vehicle market, Charging Robotics Ltd. and Revoltz Ltd. are also part of the Company’s portfolio of technology solution providers. To learn more about Medigus’ advanced technologies, please visit http://www.medigus.com/.
Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995 and other Federal securities laws. Words such as “expects,” “anticipates,” “intends,” “plans,” “believes,” “seeks,” “estimates” and similar expressions or variations of such words are intended to identify forward-looking statements. Because such statements deal with future events and are based on Medigus’ current expectations, they are subject to various risks and uncertainties, and actual results, performance or achievements of Medigus could differ materially from those described in or implied by the statements in this press release. More specifically, Medigus’ motion may not be approved for the full amount requested or at all. Medigus' failure in whole or in part to obtain the request for approval from the Israeli court could prevent or reduce the Company’s ability to buyback its shares.
The forward-looking statements contained or implied in this press release are subject to other risks and uncertainties, including those discussed in any filings with the Securities and Exchange Commission (“SEC”). Except as otherwise required by law, Medigus undertakes no obligation to publicly release any revisions to these forward-looking statements to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events. References and links to websites have been provided as a convenience, and the information contained on such websites is not incorporated by reference into this press release. Medigus is not responsible for the contents of third-party website.
Company Contact:
Tali Dinar
Chief Financial Officer
+972-8-6466-880
ir@medigus.com
Investor Relations Contact:
Miri Segal
CEO
MS-IR LLC
+1-917-607-8654
msegal@ms-ir.com
FAQ
What is the purpose of Medigus' buyback program?
When will the Medigus buyback program start?
How much has Medigus allocated for the buyback program?
What risks are associated with Medigus' buyback program?
