Welcome to our dedicated page for Medigus Ltd. American Depositary Share news (Ticker: MDGS), a resource for investors and traders seeking the latest updates and insights on Medigus Ltd. American Depositary Share stock.
The MDGS news page on Stock Titan provides an organized view of announcements and disclosures related to the company historically associated with Medigus and, in more recent communications, with Xylo Technologies Ltd. Medigus is described as a medical device company in surgical and medical instrument manufacturing, focused on endoscopic systems for GERD treatment, while Xylo is presented in news releases as a technologies company engaged in advanced medical solutions, digital commerce, and electric vehicle markets through various affiliates.
News items connected to this lineage describe Xylo Technologies as based in Israel and traded on the Nasdaq Capital Market under the symbol XYLO. These releases highlight affiliations in advanced medical solutions via Polyrizon Ltd., in digital commerce via Gix Internet Ltd. and Eventer Technologies Ltd., and in electric vehicle technologies through Charging Robotics, Inc. and Revoltz Ltd. Other affiliations mentioned include ParaZero Technologies Ltd. and Zig Miami 54 LLC.
On this page, readers can review company-related news that may cover topics such as developments in advanced medical solutions, updates from affiliated digital advertising and digital commerce businesses, progress in electric vehicle wireless charging systems, micro-mobility vehicles for last-mile logistics, and drone safety technologies. Each article reflects how the broader group of affiliated companies is described as pursuing technology-based growth partnerships.
Investors and followers of MDGS can use this news feed to trace how the focus described for Medigus as a medical device manufacturer connects with later descriptions of Xylo Technologies’ wider technology portfolio. Regularly reviewing these items can help users understand how the company’s affiliations in medical, digital, and electric vehicle-related fields are presented in public communications.
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.
Medigus Ltd. (Nasdaq: MDGS) announced the appointment of Yovav Sameah as the new CEO of its subsidiary, ScoutCam Inc.. Sameah succeeds Dr. Yaron Silberman, who is stepping down to explore new opportunities. With extensive experience in management and a background in leading global tech firms, Sameah aims to transition ScoutCam from an R&D to a fully commercialized entity. Prof. Benad Goldwasser, ScoutCam's Executive Chairman, highlighted Sameah's ability to drive sales and navigate the company's growth.
Medigus Ltd. (Nasdaq: MDGS) announced its subsidiary, Smart Repair Pro, received regulatory approvals to launch sales on Amazon.de in Germany, the second-largest Amazon marketplace. CEO Victor Hachmon noted this expansion aligns with their strategy to grow revenue and reach more consumers. The companies utilize AI and machine learning for market analysis and plan to enhance their product offerings. This expansion is expected to contribute positively to Medigus' future revenue.
Medigus Ltd. (Nasdaq: MDGS) successfully completed an $8.5 million follow-on offering, facilitated by Aegis Capital Corp. as the sole bookrunner. The funds raised will support Medigus' focus on medical devices and internet technologies, including its innovative surgical technology for treating GERD and miniaturized imaging equipment through its subsidiary Scoutcam. The offering aims to enhance Medigus' capabilities in both medical and digital sectors, reflecting the company's ambition for growth and innovation.
Medigus Ltd. (MDGS) has successfully closed an underwritten public offering of 3,258,438 American Depositary Shares (ADSs) at a price of $2.60 each, raising approximately $8.5 million before costs. The company plans to utilize the net proceeds for working capital and general corporate purposes. There is a 15% over-allotment option available to the underwriter, which could increase total proceeds to around $9.7 million. The offering was made under an effective registration statement previously filed with the SEC.