Medigus‘ Drones Safety Company, ParaZero (PRZO), to Commence Trading on Nasdaq Today
July 27 2023 - 9:00AM
Medigus Ltd. (Nasdaq: MDGS), a technology company engaged in
advanced medical solutions, innovative internet technologies, and
electric vehicle and charging solutions, announced today that
ParaZero Technologies Ltd. (PRZO) ("ParaZero"), an aerospace
company focused on drone safety systems for commercial drones and
urban air mobility aircraft, of which Medigus has a 40% ownership
stake, has completed pricing of $7.8 million as part of Initial
Public Offering ("IPO") and will commence trading on Nasdaq today,
July 27, 2023, under the symbol PRZO.
Medigus is participating in the IPO and will
hold 33% of ParaZero following the IPO’s closing.
ParaZero is a drone safety company that is
focused on drone safety systems and engaged in the business of
designing, developing and providing best-in-class autonomous
parachute safety systems for commercial drones, also known as
unmanned aerial systems or UAS. ParaZero’s team comprises of a
group of aviation professionals, together with veteran drone
operators, to address the drone industry’s safety challenges. The
company's vision is to enable the drone industry to realize its
greatest potential through increasing safety and mitigating
operational risk.
About Medigus
Based in Israel, Medigus Ltd. (Nasdaq: MDGS) is
a technology company focused on innovative growth partnerships,
mainly in advanced medical solutions, digital commerce and electric
vehicle markets. Medigus' affiliations in the medical solutions
arena include ownership in Polyrizon Ltd. The Company’s affiliates
in digital commerce include Gix Internet Ltd., Jeffs' Brands Ltd.
and Eventer Technologies Ltd. In the electric vehicle market, Fuel
Doctor Holdings, Inc. is also a part of the Company’s portfolio of
technology solution providers. To learn more about Medigus’
advanced technologies, please
visit http://www.medigus.com/.
Forward-Looking Statements
This press release contains forward-looking
statements within the meaning of the “safe harbor” provisions of
the Private Securities Litigation Reform Act of 1995 and other
Federal securities laws. Words such as “expects,” “anticipates,”
“intends,” “plans,” “believes,” “seeks,” “estimates” and similar
expressions or variations of such words are intended to identify
forward-looking statements. Because such statements deal with
future events and are based on Medigus’ current expectations, they
are subject to various risks and uncertainties, and actual results,
performance or achievements could differ materially from those
described in or implied by the statements in this press
release.
The forward-looking statements contained or
implied in this press release are subject to other risks and
uncertainties, including those discussed in any filings with the
SEC. Except as otherwise required by law, Medigus undertakes no
obligation to publicly release any revisions to these
forward-looking statements to reflect events or circumstances after
the date hereof or to reflect the occurrence of unanticipated
events. References and links to websites have been provided as a
convenience, and the information contained on such websites is not
incorporated by reference into this press release. Medigus is not
responsible for the contents of third-party websites.
Company Contact: Tali DinarChief Financial
Officer+972-8-6466-880ir@medigus.com
Investor Relations Contact:Michal
EfratyInvestor Relations,
Israel+972-(0)52-3044404michal@efraty.com
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