Medigus Announced Jeffs' Brands Signed Additional Non-binding Letter Of Intent With Sky Growth Partners To Invest In Advanced Laser- Based Wireless Charging Technology Systems; Following $2.5M Investment Jeff's Brands to Hold 70% Equity Interest
Portfolio Pulse from Benzinga Newsdesk
Medigus announced that Jeffs' Brands, in which it owns a 34.87% stake, signed a non-binding LOI with Sky Growth Partners to invest in advanced laser-based wireless charging technology for drones and unmanned aircrafts. Jeffs' Brands will hold a 70% equity interest in a new Israeli company (NewCo) after a $2.5M investment. The LOI includes milestones that could grant additional equity to founders without extra cost.
December 18, 2023 | 1:48 pm
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Jeffs' Brands is set to hold a 70% equity interest in a new company after investing $2.5M in a venture with Sky Growth Partners to develop laser-based wireless charging systems.
Jeffs' Brands' direct investment and majority stake in the new venture is a significant strategic move. The investment in innovative technology could be highly attractive to investors, likely resulting in a positive short-term impact on Jeffs' Brands' stock price.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100
POSITIVE IMPACT
Medigus, owning 34.87% of Jeffs' Brands, is indirectly involved in the investment in advanced wireless charging technology through Jeffs' Brands' 70% equity interest in the new company.
Medigus' partial ownership in Jeffs' Brands suggests a significant indirect interest in the new technology venture. The investment in a cutting-edge technology like wireless charging for drones could be seen positively by investors, potentially leading to a short-term increase in Medigus' stock price.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 80