Medigus Ltd. American Depositary Share Stock Price, News & Analysis

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.

Medigus Ltd. (Nasdaq: MDGS) announced a non-binding memorandum of understanding (MoU) with Bon V, an Indian aerospace manufacturer. This agreement involves integrating ParaZero's autonomous drone safety systems into Bon V’s products. Medigus holds a 40% stake in ParaZero, which specializes in safety solutions for commercial drones. The integration aims to enhance safety and regulatory compliance for Bon V's heavy-lift drones, facilitating safe operations beyond visual line of sight (BVLOS) and improving regulatory acceptance.

Medigus Ltd. (Nasdaq: MDGS) announced that its 47.69%-owned subsidiary, Eventer Technologies Ltd., has signed agreements with two prominent Israeli basketball teams to manage ticket sales for their games. This move reflects Eventer's strategy to expand its footprint in the sports sector, with plans to reach out to leagues in the US and Europe. Eventer, which operates a cloud-based ticketing platform, also provides ancillary services to help event organizers. CEO Liron Carmel expressed enthusiasm for this growth opportunity in an attractive industry.

Medigus Ltd. (Nasdaq: MDGS) announced a Joint Development Agreement (JDA) through its 27%-owned subsidiary, ScoutCam Inc. (OTCQB: SCTC), with a prominent defense and aviation company. The agreement focuses on utilizing ScoutCam's visualization technology for in-flight monitoring and optimizing visual inspections of aerial vehicles. This multi-year partnership ensures a future supply of ScoutCam’s solutions, integrating advanced AI and visualization for Condition Based Monitoring and Predictive Maintenance in aviation.

Medigus Ltd. (Nasdaq: MDGS) has received a notification from Nasdaq's Listing Qualifications Department indicating that its American Depositary Shares (ADSs) have closed below the minimum bid price of $1.00 for the past 30 consecutive business days. The company has 180 calendar days, until December 13, 2022, to regain compliance with this rule. Options for compliance include a potential reverse stock split. Medigus will monitor the ADS price and consider options to ensure continued listing.

Medigus Ltd. (Nasdaq: MDGS) announced that its 27.02%-owned subsidiary, ScoutCam Inc. (OTCQB: SCTC), has successfully completed the verification and validation (V&V) stage of its miniature camera solution for a Fortune 500 company. This milestone marks the readiness for mass production and potential sales revenue reaching tens of millions of dollars through ongoing supply agreements. Medigus focuses on innovative medical solutions, digital commerce, and electric vehicle technologies, prepared for growth in these sectors.