Medigus completes $11m private placement

The investment in the medical device company includes shares and warrants.

Medical device company Medigus Ltd. (TASE:MDGS), which develops and commercializes micro-cameras and minimally invasive endosurgical tools and procedures, has completed its $11.1 million private placement.

The financing agreement, which was signed in June 2014, includes shares and warrants. About half of the amount was raised from leading Israeli investors, led by entities from the Migdal Insurance and Financial Holdings Ltd. (TASE: MGDL), and the remainder included US institutional investors Sabby Management and Armistice Capital. Returning investors include Orbimed, Medigus’s controlling shareholder and Senvest.

The proceeds will be used for working capital and general corporate purposes.

ROTH Capital Partners, LLC and Ladenburg Thalmann & Co. Inc. served as co-exclusive placement agents for the transaction.

Published by Globes [online], Israel business news - - on August 28, 2014

© Copyright of Globes Publisher Itonut (1983) Ltd. 2014

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