Medigus Regains Compliance with Nasdaq Minimum Closing Bid Price Rule

Rhea-AI Summary

Medigus Ltd. (Nasdaq: MDGS) announced that it has regained compliance with Nasdaq Listing Rule 5550(a)(2), which necessitates a minimum bid price of $1.00 per ADS. This determination follows the Company's ADSs closing at or above $1.00 for 10 consecutive business days. Nasdaq has officially closed the matter regarding the prior bid price deficiency. Based in Israel, Medigus focuses on advanced medical solutions, digital commerce, and electric vehicle technologies.

Positive

• Regained compliance with Nasdaq Listing Rule 5550(a)(2).
• ADSs traded at or above $1.00 for 10 consecutive business days.

Negative

• None.

Tel Aviv, Israel, Nov. 30, 2022 (GLOBE NEWSWIRE) -- Medigus Ltd. (Nasdaq: MDGS), a technology company engaged in advanced medical solutions, innovative internet technologies, and electric vehicle and charging solutions, today reported the receipt of a formal notification from The Nasdaq Stock Market LLC ("Nasdaq") that the Company has regained compliance with Listing Rule 5550(a)(2), which requires the Company's ADSs to maintain a minimum bid price of $1.00 per ADS.  

The Nasdaq staff made this determination of compliance after the closing bid price of the Company's ADSs was at $1.00 per ADS or greater for the prior 10 consecutive business days. Accordingly, the Company has regained compliance with Nasdaq Listing Rule 5550(a)(2) and Nasdaq considers the prior bid price deficiency matter now closed.

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 Polyrizon 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/.

Company Contact:
Tali Dinar
Chief Financial Officer
+972-8-6466-880
ir@medigus.com

Investor Relations Contact:
Dave Gentry
RedChip Companies Inc.
1-800-RED-CHIP (733-2447)
Or 407-491-4498
MDGS@redchip.com

FAQ

What does Medigus (MDGS) do?

Medigus Ltd. is a technology company focused on advanced medical solutions, digital commerce, and electric vehicle technologies.

What recent compliance announcement did Medigus (MDGS) make?

Medigus announced that it has regained compliance with Nasdaq Listing Rule 5550(a)(2), maintaining a minimum bid price of $1.00 per ADS.

How did Medigus (MDGS) achieve compliance with Nasdaq?

Medigus achieved compliance by having its ADSs close at or above $1.00 for 10 consecutive business days.

What were the implications of the Nasdaq compliance for Medigus (MDGS)?

The compliance means that Nasdaq considers the prior bid price deficiency matter closed.

When was Medigus' compliance with Nasdaq announced?

The compliance announcement was made on November 30, 2022.