Medigus Ltd. (Nasdaq: MDGS) announced the pricing of an underwritten public offering of 3,333,334 American Depositary Shares (the "ADSs") (or pre-funded ADS purchase warrants, each to purchase one ADS (the "Pre-Funded Warrants") in lieu thereof). Each ADS is being sold to the public at a price per ADS of $1.50 and each Pre-Funded Warrant is being sold to the public at a price per Pre-Funded Warrant of $1.499. The gross proceeds to the Company from this offering are expected to be approximately $5,000,000 before deducting underwriting discounts, commissions and other offering expenses. The Pre-Funded Warrantswill be exercisable at any time after the date of issuance upon payment of the exercise price of $0.001per ADS.
Medigus Ltd. intends to use the proceeds of the offering for working capital and general corporate purposes.
ThinkEquity, a division of Fordham Financial Management, Inc., is acting as the sole book-running manager for the offering.
The offering is expected to close on May 22, 2020, subject to customary closing conditions.