OMER, Israel, July 23, 2018 (GLOBE NEWSWIRE) -- Medigus Ltd. (“Medigus” or the “Company”)(NASDAQ:MDGS)
(TASE:MDGS), a medical device company developing minimally invasive endosurgical tools and a leader in direct visualization
technology, today announced the closing of its previously announced underwritten public offering of 2,837,674 units at a price
of $3.50 per unit. Each unit consists of (i) one American Depositary Share, or ADS (or ADS equivalents), and (ii) one Series C
warrant to purchase one ADS. The ADSs (or ADS equivalents) and the accompanying Series C warrants included in the units were
purchased together in the offering, but were issued separately and were immediately separable upon issuance. The Company received
gross proceeds of approximately $10 million.
The Series C warrants have a term of five years, are exercisable immediately and have an exercise price of $3.50
per ADS. The Series C warrants were listed on the Nasdaq Capital Market under the symbol “MDGSW” and began trading on July 23,
2018.
In connection with the offering, Medigus has granted the underwriter a 30-day option to purchase up to 425,651
additional ADSs and/or 425,651 Series C warrants to purchase up to additional 425,651 ADSs. The underwriter partially exercised its
option to purchase additional securities by purchasing 425,651 Series C warrants to purchase up to additional 425,651 ADSs, with
such Series C warrants having been delivered at closing.
H.C. Wainwright & Co. acted as the sole book runner for this offering.
Medigus intends to use the net proceeds from the offering for general corporate purposes.
A registration statement on Form F-1 relating to the public offering of the securities described above was filed
with the Securities and Exchange Commission (“SEC”) and was declared effective on July 18, 2018. The offering of these securities
was made only by means of a prospectus forming part of the effective registration statement. A final prospectus relating to and
describing the terms of the offering has been filed with the SEC on July 23, 2018, and is available on the SEC's website at
www.sec.gov. Copies of the final prospectus may also be obtained from H.C. Wainwright & Co., LLC, 430 Park Avenue, 3rd Floor, New
York, NY 10022, by calling (646) 975-6996 or by emailing placements@hcwco.com.
This press release shall not constitute an offer to sell or a solicitation of an offer to buy, nor shall there
be any sale of these securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior
to registration or qualification under the securities laws of any such state or jurisdiction.
About Medigus
Medigus is a medical device company specializing in developing minimally invasive endosurgical tools and highly
innovative imaging solutions. They are the pioneer developer of the MUSE™ system, an FDA cleared and CE marked endoscopic device to
perform Transoral Fundoplication (TF) for the treatment of GERD (gastroesophageal reflux disease), one of the most common chronic
conditions in the world. In 2016, the CMS established the Category I CPT® Code of 43210 for TF procedures, such as the ones
performed with MUSE, which establishes reimbursement values for physicians and hospitals. MUSE is gaining adoption in key markets
around the world – it is available in world-leading healthcare institutions in the U.S., Europe and Israel. Medigus is also in the
process of obtaining regulatory clearance in China. Medigus is traded on the Nasdaq Capital Market and the TASE (Tel-Aviv Stock
Exchange Ltd.). To learn more about the company’s advanced technology, please visit www.medigus.com or www.RefluxHelp.com
This press release may contain statements that are “Forward-Looking Statements,” which are based upon the
current estimates, assumptions and expectations of the company’s management and its knowledge of the relevant market. The company
has tried, where possible, to identify such information and statements by using words such as “anticipate,” “believe,” “envision,”
“estimate,” “expect,” “intend,” “may,” “plan,” “predict,” “project,” “target,” “potential,” “will,” “would,” “could,” “should,”
“continue,” “contemplate” and other similar expressions and derivations thereof in connection with any discussion of future events,
trends or prospects or future operating or financial performance, although not all forward-looking statements contain these
identifying words. These forward-looking statements represent Medigus’ expectations or beliefs concerning future events, and it is
possible that the results described in this news release will not be achieved. By their nature, Forward-Looking Statements involve
known and unknown risks, uncertainties and other factors which may cause future results of the company’s activity to differ
significantly from the content and implications of such statements. Risk factors affecting the company are discussed in
detail in the company's filings with the Securities and Exchange Commission. Forward-Looking Statements are pertinent only as of
the date on which they are made, and the company undertakes no obligation to update or revise any Forward-Looking Statements,
whether as a result of new information, future developments or otherwise. Neither the company nor its shareholders, officers and
employees, shall be liable for any action and the results of any action taken by any person based on the information contained
herein, including without limitation the purchase or sale of company securities. Nothing in this press release should be deemed to
be medical or other advice of any kind.
MEDIA CONTACT:
Chantal Beaudry
Lazar Partners Ltd.
212-867-1762
cbeaudry@lazarpartners.com
