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Medigus Raises $7 Million

OMER, ISRAEL, Medigus, a company developing equipment for endoscopic surgical procedures, announced it has raised $7 million in funding from OrbiMed Israel and several unnamed US-based investment funds.
Medigus, a medical equipment company focused on the development and marketing of endoscopy-based surgical procedures, announced today that it completed a public issuance of shares and options on Thursday, October 17, 2013, in the total amount of NIS 24.8 million, or approximately $7 million.

The issuance of approximately 34.5 million shares at NIS 0.72 per share, was pursuant to a shelf prospectus. The shares constitute approximately 21 percent of the present voting rights in the company, together with approximately 17.3 million options with an exercise price of NIS 1.08 and a 3-year duration.

OrbiMed Israel as well as U.S based investment funds took part in the offering. Proceeds from the capital raise are intended to expedite Medigus' penetration to the U.S and Europe and to support enrollment of new patients into new and existing medical centers.
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