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

Author: Benzinga Newsdesk | December 18, 2023 09:48am

Jeffs' Brands will hold a 70% interest in a new company to be incorporated that will develop laser- based charging solutions for drones and unmanned aircrafts

Jeffs' Brands owned 34.87% by Medigus

 

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.

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