Medigus Announces Proposed Underwritten Public Offering of American Depositary Shares

OMER, Israel, Feb. 24, 2021- Medigus Ltd. (Nasdaq: MDGS) (the “Company”), a technology company engaged in advanced medical solutions and innovative internet technologies, today announced that it intends to offer its American Depositary Shares (“ADSs”) for sale in an underwritten public offering. In addition, the Company expects to grant 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 for 45 days, but not to close after March 31, 2021 unless the Company has filed its annual report on Form 20-F with the SEC before that date. The Company intends to use the net proceeds from this offering for working capital and general corporate purposes. The offering is subject to market conditions, and there can be no assurance as to whether or when the offering may be completed, or as to the actual size or terms of the offering.

Aegis Capital Corp. is acting as sole bookrunner for the offering.

This offering is being 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, and a preliminary prospectus supplement relating to the offering will be filed with the SEC and, once filed, will be available on the SEC's website at http://www.sec.gov .

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.