MDGS - Medigus to acquire controlling interest in B2B/B2C electronics wholesale distributor

Medigus ([[MDGS]]) has signed a non-binding letter of intent ((LOI)) to purchase a controlling interest in a Business-to-Business (B2B) and Business-to-Consumer (B2C) electronics distributor (the target company) with several outlets in Israel and a growing e-commerce operation for estimated total consideration of $3.3M. According to the LOI, Medigus will hold 50.06% of the issued and outstanding share capital of the target company, in consideration for cash and restricted ADSs of Medigus.The target company is a growing wholesale distributer of quality electrical infrastructure products, lighting fixtures, ventilation and heating components, tools, accessories and related professional equipment for contractors, construction companies, public organizations, factories of all sizes and individuals.The parties will negotiate and execute the definitive agreement within 60 days of the signing of the LOI.

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Medigus to acquire controlling interest in B2B/B2C electronics wholesale distributor