Medigus Ltd. American Depositary Share - MDGS STOCK NEWS

Medigus Ltd. (Nasdaq:MDGS) announced the completion of Amazon's regulatory processes for Smart Repair Pro, Inc. to launch its store in Singapore. This marks the company's expansion into a new market, following its recent approval to operate in Australia, the UK, and several European nations. Furthermore, Medigus intends to acquire a controlling interest in Smart Repair Pro and Purex, Inc., expecting combined revenues of approximately $3 million for 2020 with a 35% net profit margin. The closing of these transactions is subject to customary conditions.

Medigus Ltd. (Nasdaq: MDGS) has successfully closed a public offering of 7,098,491 American Depositary Shares (ADSs) at $1.83 each, generating gross proceeds of approximately $13 million. The funds will be utilized for working capital and general corporate purposes. Additionally, the underwriter has a 45-day option to purchase 15% more ADSs for over-allotments. This offering was made under an effective registration statement filed with the U.S. SEC. Aegis Capital Corp. served as the sole bookrunner for the transaction.

Medigus Ltd. (Nasdaq: MDGS) announced a public offering of 7,098,491 American Depositary Shares at $1.83 each, aiming to raise approximately $13 million before expenses. The funds will be utilized for working capital and general corporate purposes. The offering includes a 45-day option for the underwriter to purchase an additional 15% of the ADSs. This offering is part of an effective registration statement with the SEC and is expected to close around December 4, 2020.

Medigus Ltd. (Nasdaq:MDGS) has announced a commercial licensing agreement between its subsidiary, Eventer Technologies, and Screenz Cross Media. This partnership allows both companies to utilize each other’s event management platforms, enhancing access to interactive virtual events and ticketing solutions.

Screenz Live, developed by Screenz, will enable content creators to promote and sell tickets for live and VOD events. The agreement encompasses three commercial models, enhancing business-to-business capabilities and expanding event broadcasting potential.

Medigus Ltd. (NASDAQ:MDGS) announced plans for a joint venture with EMuze, focusing on developing EV-based micro-mobility vehicles for urban transport. The company aims to establish NewCo through a memorandum of understanding, initially acquiring 19.99% share for $250,000, with potential to increase to 50.1% via additional investment. Alon Davidi from General Motors will serve as the EV advisor. EMuze's vehicles promise full-day operation on a single charge and are tailored for various applications, supported by a manufacturing agreement with Ningbo Beijing Shen Jian Machinery Technology.

Medigus Ltd. (Nasdaq:MDGS) announced that its affiliate, Matomy Media Group Ltd., has entered into a merger agreement with Global Automax Ltd., an Israeli automotive importer. This transaction involves a share exchange where Matomy will acquire 100% of Global Automax in exchange for approximately 53% of Matomy’s capital. Global Automax recorded a turnover of NIS 355 million from selling about 3,000 vehicles in 2019. Shareholders of Global Automax may earn additional shares contingent on achieving specified milestones by December 31, 2023.

Medigus Ltd. (Nasdaq:MDGS) announced a non-binding term sheet for a $100,000 investment in Polyrizon Ltd., increasing its stake from 19.9% to approximately 33%. This investment supports Polyrizon's aim to submit products for FDA approval, particularly a Biogel aimed at protecting against COVID-19. Medigus also has the option to invest an additional $50,000 within 60 days of initial closing. The collaboration includes an exclusive license for Medigus to resell Polyrizon's products upon FDA approval.

Medigus Ltd. (NASDAQ:MDGS) has announced the successful soft launch of its AI-driven event platform, Eventer, in the U.S. market. This launch coincided with a virtual book event for The Influencer Code by Amanda Russell, hosted by The Andy Roddick Foundation. The platform allows for automated management, promotion, and billing of events, catering to both individuals and enterprises. Eventer’s client roster includes major companies such as American Express and Live Nation, emphasizing its robust capabilities in online ticketing and event management.