Last month, the esophagus endoscope maker raised NIS 7 million in a secondary offering.
Medical device company Medigus Ltd. (TASE:MDGS) yesterday raised NIS 6 million in a rights issue, a month after raising NIS 7 million in a secondary public offering.
The rights issue was held at NIS 1.23 per share, less than half yesterday's opening price of NIS 2.58. Shareholders exercised 99.8% of the issue. Medigus's shareholders Dexxon Technologies controlling shareholder Dan Oren, Medigus chairman Yair Rabinowitch and CEO Elazar Sonnenschein invested NIS 2.6 million altogether in the rights issue. Johnson & Johnson (NYSE: JNJ) is also a shareholder.
Medigus said that it would use the proceeds to continue clinical trials in the US of its SRS endoscope for intra-luminal treatment of Gastroesophageal Reflux Disease (GERD) and to develop its endoscopic camera for minimally invasive surgical procedures.
Medigus's share rose 2.4% today to NIS 2.63, giving a market cap of NIS 162 million.
Published by Globes [online], Israel business news - www.globes-online.com - on October 14, 2009
© Copyright of Globes Publisher Itonut (1983) Ltd. 2009