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Medigus prices $1.6M registered direct offering

Published 11/24/2017, 07:04 AM
© Reuters.  Medigus prices $1.6M registered direct offering
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  • Medigus (NASDAQ:MDGS) announces that it has entered into definitive agreements with several institutional investors providing for the issuance of an aggregate of 810,000 ADS at a purchase price of $2.00 per ADS in a registered direct offering.
  • Additionally, the Company will issue unregistered warrants to purchase up to 405,000 ADSs. The warrants will have a term of 5.5 years, be exercisable commencing six months following the issuance date and have an exercise price of $2.25 per ADS.
  • Expected gross proceeds from the offering will be ~$1.6M. Net proceeds will be used for general corporate purposes.
  • The closing of the sale of the securities is November 28.
  • Shares are down 9% premarket on modest volume.
  • Now read: Kitov Pharmaceuticals up 20% premarket


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