Engaged in advancing innovative solutions for large-scale market applications
Tel Aviv, Israel, Sept. 01, 2022 (GLOBE NEWSWIRE) — Medigus Ltd. (Nasdaq: MDGS), a technology company engaged in advanced medical solutions, innovative internet technologies, and electric vehicle and charging solutions, announced today that Jeffs’ Brands Ltd. (“Jeffs’ Brands”), a data-driven e-commerce company operating on the Amazon Marketplace, announced on August 30, 2022, the closing of its initial public offering (“IPO”), and the simultaneous closing of a portion of the underwriter’s over-allotment option, for aggregate gross proceeds of approximately $15.5 million before deducting underwriting discounts and other estimated offering expenses.
As a result of the closing of the IPO, Medigus now owns 35.27% of Jeffs’ Brands.
Jeffs’ Brands issued 3,717,473 ordinary shares and 3,717,473 warrants, each to purchase one ordinary share with an initial exercise price of $4.04 per share, at a combined initial public offering price of $4.16 per ordinary share and warrant.
Jeffs’ Brands granted Aegis Capital Corp., the underwriter (“Aegis”), a 45-day over-allotment option to purchase additional shares of ordinary shares and/or warrants to purchase additional ordinary shares up to 15% of the number of ordinary shares and warrants, respectively, sold in the offering solely to cover over-allotments, if any. On August 29, 2022, Aegis partially exercised its over-allotment option with respect to 425,912 warrants to purchase 425,912 ordinary shares.
The ordinary shares and warrants began trading on Nasdaq under the symbol “JFBR” and “JFBRW”, respectively, on August 26, 2022.
Aegis Capital Corp. acted as the sole book-running manager for the offering.
A registration statement on Form F-1 (No. 333-262835) relating to the securities being sold in this offering (the “Registration Statement”) was declared effective by the Securities and Exchange Commission (the “SEC”) on August 25, 2022. The offering was made only by means of the Registration Statement and the preliminary prospectus contained therein. Copies of the final prospectus may be obtained on the SEC’s website, www.sec.gov, or by contacting Aegis Capital Corp., Attention: Syndicate Department, 1345 Avenue of the Americas, 27th floor, New York, NY 10105, by email at [email protected], or by telephone at (212) 813-1010.
This press release shall not constitute an offer to sell, or a solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
About Jeffs’ Brands Ltd
Jeffs’ Brands is transforming the world of e-commerce by creating and acquiring products and turning them into market leaders, tapping into vast, unrealized growth potential. Through our stellar team’s insight into the FBA Amazon business model, we’re using both human capability and advanced technology to take products to the next level. For More Information on Jeffs’ Brands Ltd visit https://jeffsbrands.com.