On May 18, 2020 (the “Closing Date”), ScoutCam Inc. (the “Company”) entered into and consummated a securities purchase agreement (the “Purchase Agreement”) with M. Arkin (1999) Ltd. (“Arkin”) in connection with the sale and issuance of 2,066,116 units (“Units”), at a purchase price of $0.968 per Unit, and for an aggregate purchase price of $2,000,000. On the Closing Date, and as a condition to the consummation of the Purchase Agreement, the Company’s board of directors (the “Board”) appointed Ms. Irit Yaniv, a designee of Arkin, as a director of the Company.