ScoutCam (OTCMKTS:SCTC) Stock In Focus After Latest News

Leading Condition Based Monitoring and Predictive Maintenance providing company ScoutCam (OTCMKTS:SCTC) is one of the companies which may come on to the radars of investors today in light of the announcement it made yesterday. The company announced that an entity that also includes ScoutCam executives and its biggest shareholder, a director, had picked up stock from Medigus Ltd and some of its affiliates. The total value of the transaction had come to $6 million.

Trading Data     

On Tuesday, SCTC stock ended flat at $3.0000 with more than 7.57K shares, compared to volume of 419 shares. The stock moved within a range of $3.0000 – 3.0000 after opening trade at $3.0000.

ScoutCam Executives Including Chairman of the Board, CEO and Largest Shareholder Buy Company Shares at Purchase Price of $6M

Mori Arkin, who is a noted pharmaceutical and life sciences entrepreneur and also a director of the ScoutCam director as well as its biggest shareholder, led the purchase of the shares. Other investors in the transaction were a major Israeli institutional investors which was already invested in the company, BenadGoldwasser, chairman of the Board at ScoutCam and YehuOfer, the Chief Executive Officer.

Arkin spoke about his rationale for leading the transaction. He noted that ScoutCam was well on its way to becoming a unicorn, that is, a company worth in excess of a billion dollars. He added that the transaction illustrated the sort of faith that the investors had in the company’s future and he stated that his own conviction in the company’s future was stronger than ever.