- Israel-based Medigus Ltd MDGS and its wholly-owned subsidiary, Charging Robotics, have signed a non-binding letter of intent for a planned securities exchange agreement with Fuel Doctor Inc FDOC.
- The transaction will result in Charging Robotics becoming a wholly-owned subsidiary of Fuel Doctor.
- In exchange, Medigus will receive 80% of the issued and outstanding share capital of Fuel Doctor. Medigus will appoint nominees as officers and directors of Fuel Doctor.
- Charging Robotics is developing an automatic wireless charging system dedicated to public parking lots.
- Price Action: MDGS shares are trading higher by 3.52% at $1.03 on the last check Friday.
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