OMER, Israel, Aug. 28, 2014 (GLOBE NEWSWIRE) -- Medigus Ltd. (TASE:MDGS), a medical device company developing and commercializing micro-cameras and minimally invasive endosurgical tools and procedures, today announced that it has completed its previously disclosed private placement in the aggregate of $11.1 million including shares and warrants, signed in June 2014. Approximately half of the amount was raised from leading Israeli investors, led by entities from the Migdal Insurance Group, with the remainder including U.S institutional investors Sabby Management and Armistice Capital. Returning investors include Orbimed, Medigus' 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 on the transaction.
Medigus is a medical device company specializing in developing minimally invasive endosurgical tools and highly innovative imaging solutions. Medigus is a pioneer developer of a unique proprietary endoscopic device, the MUSE(TM) system, to treat gastroesophageal reflux disease (GERD), one of the most common chronic diseases in the western world. As an expert in micro-endoscopic devices, Medigus has developed a range of micro CMOS (complementary metal-oxide semiconductor) and CCD (charge-coupled device) video cameras, including micro ScoutCam(TM) 1.2, which to the best of the company's knowledge, is the smallest in the world. These innovative cameras are suitable for both medical and industrial applications. The MUSE(TM) system incorporates Medigus' revolutionary micro ScoutCam(TM) technology. Based on its proprietary technologies, Medigus designs and manufactures endoscopy and micro camera systems for partner companies, including major players in the medical and industrial fields. The company is committed to providing integrated solutions to meet all of its customer's imaging needs. Medigus is traded on the TASE (Tel Aviv Stock Exchange). To learn more about the company's advanced technology, please visit www.medigus.com or www.microscoutcam.com.
Chantal Beaudry/Carrie Yamond
Lazar Partners Ltd.
Hayden/ MS-IR LLC
Source: Medigus Ltd.