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. announced a public offering of 3,258,438 American Depositary Shares (ADSs), priced at $2.60 per ADS, aiming to raise approximately $8.5 million before costs. The funds will be directed towards working capital and general corporate purposes. The offering is scheduled to close around March 1, 2021, pending customary conditions, with a potential additional gross proceeds of $9.7 million if the underwriter's over-allotment option is fully exercised. Aegis Capital Corp. serves as the bookrunner.
Medigus Ltd. (NASDAQ: MDGS) announced an intention to offer American Depositary Shares (ADSs) in an underwritten public offering. The company plans to grant the underwriter a 15% option for over-allotments, exercisable for 45 days post-offering. Proceeds will be allocated for working capital and corporate purposes. The offering depends on market conditions, and there's no guarantee regarding completion or terms. Aegis Capital Corp. serves as the sole bookrunner. This follows an effective registration statement with the SEC from May 2020.
Medigus Ltd. (NASDAQ:MDGS) announced an exclusive licensing agreement between its subsidiary Eventer Technologies Ltd. and Screenz Cross Media Ltd., focusing on the virtual conference market. Eventer will invest $1.5 million for adapting Screenz's technology, predicting substantial growth due to the COVID-19 pandemic. The global virtual events market was valued at $77.98 billion in 2019, expected to grow at a 23.2% CAGR through 2027. Adaptation of technology is anticipated to complete in the second half of 2021, with Screenz entitled to 8% of revenue from the product.
Medigus Ltd. (NASDAQ:MDGS) has announced the formation of a joint venture, NewCo, for developing urban and logistics electric vehicles aimed at improving last-mile delivery solutions. This venture includes notable partners Amir Zaid and Weijian Zhou, founders of EMuze. Medigus plans to invest up to $1.35 million to gain a potential 50.1% ownership in NewCo based on achieving specific milestones, starting with an initial investment of $250,000.
The joint venture aims to create EVs that can operate a full working day on a single charge.
Medigus Ltd. (Nasdaq: MDGS) announced the appointment of Mori Arkin to the board of its subsidiary, ScoutCam Inc. (OTCQB: SCTC). Arkin, who previously invested $2 million in ScoutCam, replaces Dr. Irit Yaniv on the board, reflecting his confidence in the company’s potential beyond medical visualization. His involvement is anticipated to enhance ScoutCam's business opportunities in various sectors, including maintenance and predictive technologies. Arkin's background includes founding and growing Arkin Holdings, with a significant portfolio in healthcare and pharmaceuticals.
Medigus Ltd. (Nasdaq: MDGS) has announced the development of a robotic wireless charging pad for electric vehicles through its new subsidiary, Charging Robotics Ltd. Initial testing will occur in collaboration with a university in Israel. The autonomous system aims to provide on-demand charging anywhere, utilizing state-of-the-art Wireless Power Transfer (WPT) technology. Once fully developed, it will enable seamless charging of vehicles, enhancing convenience for electric vehicle users.
Medigus Ltd. (Nasdaq:MDGS) announced that its subsidiary, Smart Repair Pro, acquired a fitness toys brand on Amazon for $4 million, with 80% financed by Medigus. The brand achieved revenues of $2.5 million in 2020, with a net profit margin of approximately 40%. Smart Repair Pro anticipates $10 million in revenues in 2021 if all acquisitions are finalized. The deal enhances its portfolio, which includes three existing brands, and aims for expansion across multiple markets including Canada and Europe.
Medigus Ltd. (Nasdaq:MDGS) announced that its 50.1%-owned subsidiary, Smart Repair Pro, Inc., has signed agreements to acquire two brands on the Amazon Marketplace for $700,000. The deal is contingent upon standard closing conditions, including asset inspections. Smart Repair Pro aims to leverage its expertise and technology to enhance the brands' ratings and sales. Currently, the subsidiary manages three successful Amazon brands across various markets, including the U.S., Canada, and Europe.
Medigus Ltd. (Nasdaq: MDGS) announced that the underwriter of its recent public offering exercised its option to purchase an additional 548,960 ADSs at $2.30 each. This adds approximately $9.6 million in gross proceeds, enhancing the company's financial position. The offering was conducted under an effective F-3 registration statement with the SEC. Aegis Capital Corp. served as the sole bookrunner for the offering. Further details and the final prospectus can be requested from Aegis Capital Corp.
Aegis Capital Corp. acted as the Sole Bookrunner for a $8.4 million Follow-On Offering for Medigus (NASDAQ:MDGS). This funding is part of Medigus' efforts in medical-related devices and innovative technologies, including products for Gastroesophageal Reflux Disease (GERD) and biological gels designed for patient protection. Medigus also explores internet technologies, emphasizing investments in ad-tech and e-commerce solutions. The offering is expected to bolster Medigus' financial position and support ongoing projects across its subsidiaries.