Medigus: Jeffs' Brands Signs a Non-Binding Letter of Intent to Invest in a Remote Wireless Electric Charging Technology Company
December 18 2023 - 8:40AM
Medigus Ltd. (Nasdaq: MDGS), a technology company engaged in
advanced medical solutions, innovative internet technologies, and
electric vehicle and charging solutions, announced that on December
15, 2023, Jeffs' Brands Ltd. (“Jeffs’ Brands”) (owned 34.87% by
Medigus) a data-driven E-commerce company operating on the Amazon
Marketplace, announced the signing of an additional non-binding
letter of intent (“LOI") with Sky Growth Partners Ltd. (“Sky
Growth”), to invest in advanced laser- based wireless charging
technology systems, for the remote charging of drones and unmanned
aircrafts (the “Investment”).
The LOI follows Jeffs’ Brands’ announcement from
November 29, 2023, in which the board of directors resolved to
identify potential strategic transactions, in the field of advanced
technologies, with the goal of maximizing shareholder value.
According to the LOI, Sky Growth will establish
and transfer all of its rights in the technology to a new Israeli
company that will develop, manufacture and market the technology
("NewCo"). Following an investment of $2.5 million by Jeffs’
Brands, it will hold a 70% equity interest in NewCo. The LOI also
includes certain milestone conditions that if achieved by NewCo,
will grant the founders, for no additional consideration,
additional equity interests in NewCo.
NewCo plans on developing a technological system
based on a pending patent. The system will enable wireless charging
for drones and unmanned aircrafts. Unlike conventional charging
methods, that rely on cumbersome cables, robust infrastructure,
pads and more, Digital Light Processing (DLP) wireless charging
systems utilizes precision laser to transmit energy wirelessly to
infrastructure, drones, unmanned aircraft and other platforms. This
technology eliminates the need for physical connectors, making the
charging process more efficient, seamless, convenient and enabling
new technologies to be developed and adopted, for various uses,
such as commercial drone applications.
The Investment is subject to the successful
completion of due diligence, the execution of binding definitive
agreements with respect to the Investment and compliance with any
regulatory requirements and approvals.
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,
Charging Robotics Ltd. and Revoltz Ltd., by way of Fuel Doctor
Holdings, Inc. are also 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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