Medigus (MDGS) Prices 3.33M ADS Share Offering at $1.50/ADS

Medigus Ltd. (NASDAQ: MDGS) today 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 Warrants will be exercisable at any time after the date of issuance upon payment of the exercise price of $0.001 per 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.

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