Medigus Ltd. American Depositary Share - MDGS STOCK NEWS

Medigus Ltd. (Nasdaq: MDGS) announced that its subsidiary, Eventer Technologies Ltd., has filed a public prospectus draft for an IPO on the Tel Aviv Stock Exchange. Eventer completed a $2.25 million pre-IPO funding round in April 2021, which included a $1.5 million investment from Keshet. Medigus invested a total of $1.05 million, reducing its ownership to 47.69%. The funding values Eventer at $6 million post-money, highlighting Medigus’ strategic financial positioning.

Medigus Ltd. (Nasdaq: MDGS) reported significant revenue growth for 2020, with product and service revenues reaching approximately $531,000, up 95% from 2019's $273,000. This growth was primarily driven by sales to A.M. Surgical, totaling $383,000. Despite this revenue increase, the company recorded a net loss of approximately $6.85 million, a 52% improvement from a $14.18 million loss in 2019. As of year-end 2020, cash and cash equivalents surged to $22.36 million, largely due to financing activities that generated $22.95 million. Medigus is focusing on various sectors, including electric vehicles and medical technology.

Medigus Ltd. (Nasdaq: MDGS) announced a significant breakthrough through its subsidiary, Charging Robotics Ltd., achieving a major proof of concept milestone for an autonomous robotic charging pad intended for wireless electric vehicle charging. The robot demonstrated its capability to locate and align optimally under vehicles for efficient charging. Future plans include integrating charging components onto the platform. This development aims to create an on-demand autonomous charging system that facilitates seamless charging anytime and anywhere.

Medigus Ltd. (Nasdaq: MDGS) announced that its affiliate, Polyrizon Ltd., has commenced a pre-clinical trial to evaluate the efficacy of its bio-gel in protecting against coronavirus infection. Polyrizon's innovative technology aims to prevent allergens and viruses from entering the body through the upper airways and eye cavities. The trial will explore various formulations of the bio-gel to determine the most effective for preventing viral intrusion. Results will guide regulatory processes and formulation refinement.

Medigus Ltd. (NASDAQ:MDGS) announced on April 8, 2021, that its subsidiary, Eventer Technologies Ltd., completed a $2.25 million pre-IPO funding round led by Keshet, an Israeli media group. Medigus participated with an additional $300,000, reducing its stake in Eventer from 58.77% to 47.69%. Eventer plans to use half of the funds for media advertising to promote virtual events. The funding reflects a post-money valuation of $6 million for Medigus in Eventer.

Medigus Ltd. (MDGS) announced that Gix Internet will consolidate its ad-tech operations under its subsidiary, Linkury Ltd. Gix's board has formed a committee to explore merger opportunities beyond online advertising. Linkury reported 2020 revenues of approximately $38 million and a net profit of around $4.2 million. Medigus increased its stake in Gix to 24.99%, potentially rising to 33.17% pending shareholder approval. This strategic move aims to enhance growth opportunities and optimize Gix's technological assets.

Medigus Ltd. (Nasdaq: MDGS) announced that its subsidiary, ScoutCam Inc. (OTCQB: SCTC), secured a private placement of $20 million from top Israeli institutional investors. The private placement, closing by March 31, 2021, includes the issuance of 22,222,223 shares at $0.90 each, along with warrants priced at $1.15. Proceeds will advance ScoutCam's innovative products in the medical device sector and predictive maintenance.

Barak Capital acted as the placement agent. The securities are not registered under the 1933 Act, limiting their sale in the U.S.

Medigus Ltd. (MDGS) has entered into a non-binding MOU with Global Automax Ltd., allowing the latter exclusive distribution rights for its wireless robotic charging pad for electric vehicles in Israel and Greece. Global Automax will pay a one-time fee of $50,000 for distribution rights and holds an option to purchase up to 5% of Charging Robotics' shares at a $30 million pre-money valuation. Global Automax, with a reported turnover of $100 million in 2019, will handle necessary regulatory approvals in the territories.

Medigus Ltd. (Nasdaq: MDGS) announced a successful completion of its underwritten public offering. The underwriter has fully exercised the option to purchase an additional 488,765 ADSs at $2.60 each, generating total gross proceeds of approximately $9.7 million. The offering was conducted under an effective F-3 registration statement with the SEC. Aegis Capital Corp. acted as the sole bookrunner. The funds raised are intended for future business operations, though exact intentions are not detailed in the release.