Stock Alert: Medigus Shares Surge 35% In Early Trade

Shares of the medical devices company Medigus Ltd. (MDGS) are soaring over 35% in pre-market today, after the company announced a definitive agreement to acquire a controlling interest in Smart Repair Pro Inc. and Purex Inc., two data-driven e-commerce companies, operating on the Amazon Marketplace.

As per the deal, Medigus will hold 50.01% of the issued and outstanding share capital of each of the companies, acquired through a combination of a cash investment in the companies, and an acquisition of additional shares from the companies’ current shareholders in consideration for restricted ADSs of Medigus and a cash component.

The stock has been trading in the range of $0.83 – $5.15 for the past one year, and closed Thursday’s trade at $1.52, up 3 cents or 2.01%. Currently, MDGS is trading at $2.06, up 54 cents or 35.53% in Friday’s pre-market session.

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