Medigus (NASDAQ: MDGS) (TASE: MDGS), a medical device company developing minimally invasive endosurgical tools engaged in direct visualization technology, recently closed an underwritten public offering of 2,837,674 units at a price of $3.50 per unit. Each unit consisted of one American Depositary Share (“ADS”) and one Series C warrant to purchase one ADS. The ADSs and accompanying Series C warrants were purchased together in the offering, but were issued separately. Gross proceeds of approximately $10 million were raised from the offering, which Medigus intends to use for general corporate purposes.
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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.). For more information, visit the company’s website at www.Medigus.com.
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