Medigus Ltd. American Depositary Share - MDGS STOCK NEWS

Medigus Ltd. (Nasdaq: MDGS) announced the appointment of Yehu Ofer as CEO of ScoutCam Inc. (OTCQB: SCTC), a company in which Medigus holds a 27.02% ownership. Ofer, a former Israeli Air Force officer, brings extensive experience in aviation and aerospace industries. His leadership is expected to support ScoutCam's growth in providing AI-based visualization solutions for Predictive Maintenance and Condition Based Monitoring across various markets. The appointment signifies a strategic move to enhance ScoutCam's capabilities in Industry 4.0 sectors.

Medigus Ltd. (Nasdaq: MDGS) reported record revenues of $34.95 million for the first half of 2022, a staggering increase of over 1,300% year-over-year compared to $2.39 million in 2021. Gross profit also surged to $6.19 million, up from $0.6 million in the same period. As of June 30, 2022, cash and cash equivalents stood at $22.1 million, with shareholders’ equity rising to $53.19 million. The CEO highlighted the company's diverse business model and upcoming catalysts aimed at enhancing shareholder value.

Medigus Ltd. (Nasdaq: MDGS) announced that its affiliate, Polyrizon Ltd., in which it owns 37.03%, has submitted a PCT patent application for its innovative Capture and Contain (C&C™) platform. This platform creates a polymeric barrier that protects the body from airborne threats like allergens and viruses. Polyrizon focuses on developing intranasal products aimed at improving health safety. The announcement reflects Medigus' commitment to advancing medical solutions through innovative technology and strategic partnerships.

Medigus Ltd. (Nasdaq: MDGS) has filed a motion in the Tel Aviv District Court for approval to distribute up to $1.6 million in dividends to holders of its American Depositary Shares. This request comes after previous court restrictions hindered the company's ability to buy back shares. If approved, the dividend will be distributed proportionally to shareholders, with further announcements expected upon board approval.

Medigus Ltd. (Nasdaq: MDGS) announced significant growth for its subsidiary Eventer Technologies Ltd. in the first half of 2022. Eventer's ticket sales reached approximately $35 million, a remarkable 307% increase from $8.6 million in the same period of 2021. Revenues rose 211% to $1.4 million, with gross profit surging 350% to $1.17 million. Over 1 million tickets were sold, and the commission rate remained stable at 5%. The recovery of the entertainment sector post-COVID-19 has positively impacted Eventer's performance, which now includes new market verticals like sports events.

Medigus (Nasdaq: MDGS) announced that it now owns 35.27% of Jeffs' Brands following the company's IPO, which closed on August 30, 2022. The IPO generated approximately $15.5 million in gross proceeds before expenses. Jeffs' Brands issued 3,717,473 ordinary shares and warrants at an initial price of $4.16 each, with a warrant exercise price of $4.04. Aegis Capital Corp. acted as the sole book-running manager for the offering, which included a 15% over-allotment option. Trading began on Nasdaq for these securities on August 26, 2022.

Medigus Ltd. (Nasdaq: MDGS) announced the financial results of its affiliate, Gix Internet, for the first half of 2022, highlighting a 166% surge in revenues to approximately $43.4 million. This is compared to $16.3 million in the same period of 2021. Gix also achieved an operating profit of about $0.6 million, recovering from an operating loss of $0.37 million in the previous year. Medigus, which holds 42.69% of Gix's shares, plans to consolidate Gix's results in its financial reporting starting February 28, 2022.

Medigus Ltd. (Nasdaq: MDGS) announced on Aug. 29, 2022, that its affiliate, Jeffs' Brands Ltd., priced its initial public offering of 3,717,473 units at $4.16 per unit, aiming for gross proceeds of $15.5 million. Each unit includes one ordinary share and a warrant with an exercise price of $4.04. The offering is scheduled to close on Aug. 30, 2022. Jeffs' Brands has granted an over-allotment option to the underwriter, potentially increasing total proceeds to $17.8 million. Shares are expected to trade under symbols JFBR and JFBRW.

Medigus Ltd. (Nasdaq: MDGS) announced a significant Collaboration Agreement with NurExone Biologic Inc. to advance an intranasal delivery system for trauma recovery. The agreement will enable Polyrizon Ltd., in which Medigus holds a 37.03% stake, to receive up to $3.35 million along with future royalties. NurExone will fund formulation development costs totaling $220,000 in installments. The partnership aims to develop therapies for spinal cord injuries using modified siRNA sequences, with a biological efficacy study expected within three quarters.