Medigus Announces Pricing of $1.47 Million Registered Direct Offering

OMER, Israel, September 8, 2016 — Medigus Ltd. (NASDAQ: MDGS) (TASE: MDGS), a medical device company developing minimally invasive endosurgical tools and a leader in direct visualization technology, today announced that it has entered into definitive securities purchase agreements with two institutional investors providing for the issuance of approximately 1.28 million American depositary shares (ADS) at a purchase price per ADS of $1.15 in a registered direct offering with gross proceeds of approximately $1.47 million.
Roth Capital Partners acted as the lead placement agent and Maxim Group LLC acted as the co-placement agent for this transaction.
The closing of the sale of the securities is expected to take place on or about September 13, 2016, subject to satisfaction of customary closing conditions.
Medigus intends to use the net proceeds from the offering for general corporate purposes.
The ADSs described above were offered pursuant to a shelf registration statement on Form F-3 (File No. 333-213280), which was declared effective by the United States Securities and Exchange Commission, or the SEC on August 31, 2016.
This press release shall not constitute an offer to sell or the solicitation of an offer to buy any of the securities described herein, 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. When filed with the SEC, copies of the prospectus supplement and the accompanying prospectus relating to this offering may be obtained at the SEC's website at http://www.sec.gov. Copies of the prospectus supplement and accompanying prospectus relating to the offering may also be obtained from Roth Capital Partners, LLC by contacting rothecm@roth.com or Maxim Group LLC, by contacting syndicate@maximgrp.com.