Medigus Closes $8.4 Million Underwritten Public Offering of American Depositary Shares

OMER, Israel, Jan. 13, 2021 - Medigus Ltd. (Nasdaq, TASE: MDGS) (“Medigus” or “the Company”), a technology company engaged in advanced medical solutions and innovative internet technologies, today announced the closing of an underwritten public offering of 3,659,735 American Depositary Shares (the “ADSs”). Each ADS was sold to the public at a price per ADS of $2.30. The gross proceeds to the Company from this offering are expected to be approximately $8.4 million before deducting underwriting discounts and commissions and other estimated offering expenses payable by the Company.

The Company intends to use the net proceeds from this offering for working capital and general corporate purposes.

The Company has also granted the underwriter an option to purchase an additional 15 percent of the ADSs offered in the public offering solely to cover over-allotments, if any, exercisable until the earlier of 30-days or the last day of trading of the Company’s ordinary shares on the Tel-Aviv Stock Exchange prior to their delisting which would increase the total gross proceeds of the offering to approximately $9.6 million, if exercised in full.

Aegis Capital Corp. acted as sole bookrunner for the offering.

This offering was made pursuant to an effective registration statement on Form F-3 (No 333-238162) previously filed with the U.S. Securities and Exchange Commission (the “SEC”) and declared effective by the SEC on May 15, 2020. A final prospectus describing the terms of the proposed offering has been filed with the SEC and is available on the SEC’s website located at http://www.sec.gov.

Electronic copies of the final prospectus may be obtained by contacting Aegis Capital Corp., Attention: Syndicate Department, 810 7th Avenue, 18th floor, New York, NY 10019, by email at syndicate@aegiscap.com, or by telephone at (212) 813-1010.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of these securities in any state or jurisdiction in which such 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 traded on the Nasdaq Capital Market and the TASE (Tel Aviv Stock Exchange). To learn more about the company’s advanced technology, please visit www.medigus.com.