BioSig Announces $2.5 Million Registered Direct Offering Priced At-the-Market Under Nasdaq Rules
November 13 2023 - 3:30PM
BioSig Technologies, Inc. (NASDAQ: BSGM) (“BioSig” or the
“Company”) a medical technology company committed to delivering
unprecedented accuracy and precision to intracardiac signal
visualization, today announced the closing of its previously
announced registered direct offering priced at-the-market under
Nasdaq rules of 6,996,922 shares of its common stock, Series A
warrants to purchase up to 6,996,922 shares of common stock and
Series B warrants to purchase up to 6,996,922 shares of common
stock, at a purchase price of $0.3573 per share of common stock and
associated warrants.
H.C. Wainwright & Co. acted as exclusive
placement agent for the offering.
The warrants have an exercise price of $0.3573
per share and will become exercisable on the effective date of
stockholder approval for the issuance of the shares upon exercise
of the warrants (or payment of $0.125 per share). The Series A
warrants will expire five years from the date of issuance and the
Series B warrants will expire eighteen months from the date of
issuance.
The gross proceeds from the offering were
approximately $2.5 million before deducting the placement agent’s
fees and estimated offering expenses. BioSig intends to use the net
proceeds of this offering for working capital and general corporate
purposes.
The securities described above were offered by
BioSig pursuant to a shelf registration statement on Form S-3 (File
No. 333-251859) that was previously filed with the Securities and
Exchange Commission (“SEC”) on December 31, 2020, and subsequently
declared effective on January 12, 2021. The securities offered in
the registered direct offering were offered only by means of a
prospectus, including a prospectus supplement, forming a part of
the effective registration statement. A final prospectus supplement
and accompanying base prospectus relating to, and describing the
terms of, the registered direct offering was filed with the SEC and
is available on the SEC's website at www.sec.gov. Electronic copies
of the final prospectus supplement and the accompanying base
prospectus relating to the registered direct offering may also be
obtained by contacting H.C. Wainwright & Co., LLC, at 430 Park
Ave., New York, New York 10022, by telephone at (212) 856-5711, or
by email at placements@hcwco.com.
This press release does not constitute an offer
to sell or a solicitation of an offer to buy the securities in this
offering, nor shall there be any sale of these securities in any
state or other jurisdiction in which such offer, solicitation or
sale would be unlawful prior to the registration or qualification
under the securities laws of any such state or other
jurisdiction.
About BioSig Technologies,
Inc.
BioSig Technologies is a medical technology
company focused on deciphering the body’s electrical signals,
starting with heart rhythms. By leveraging a first of its kind
combination of hardware and software, we deliver unprecedented
cardiac signal clarity, ending the reliance on ‘mixed signals’ and
‘reading between the lines.’ Our platform technology is addressing
some of healthcare’s biggest challenges—saving time, saving costs,
and saving lives.
The Company’s product, the PURE EP™ Platform, an
FDA 510(k) cleared non-invasive class II device, provides superior,
real-time signal visualization allowing physicians to perform
highly targeted cardiac ablation procedures with increased
procedural efficiency and efficacy.
Forward-looking Statements
This press release contains “forward-looking
statements.” Such statements may be preceded by the words
“intends,” “may,” “will,” “plans,” “expects,” “anticipates,”
“projects,” “predicts,” “estimates,” “aims,” “believes,” “hopes,”
“potential” or similar words. Such statements include, but are
not limited to, the intended use of proceeds from the
registered direct offering. Forward-looking statements are not
guarantees of future performance, are based on certain assumptions
and are subject to various known and unknown risks and
uncertainties, many of which are beyond the Company’s control, and
cannot be predicted or quantified and consequently, actual results
may differ materially from those expressed or implied by such
forward-looking statements. Such risks and uncertainties include,
without limitation, risks and uncertainties associated with (i) the
geographic, social and economic impact of COVID-19 on our ability
to conduct our business and raise capital in the future when
needed; (ii) our inability to manufacture our products and product
candidates on a commercial scale on our own, or in collaboration
with third parties; (iii) difficulties in obtaining financing on
commercially reasonable terms; (iv) changes in the size and nature
of our competition; (v) loss of one or more key executives or
scientists; (vi) difficulties in securing regulatory approval to
market our products and product candidates; and (vii) market and
other conditions. More detailed information about the Company and
the risk factors that may affect the realization of forward-looking
statements is set forth in the Company’s filings with the SEC,
including the Company’s Annual Report on Form 10-K and its
Quarterly Reports on Form 10-Q. Investors and security holders are
urged to read these documents free of charge on the SEC’s website
at http://www.sec.gov. The Company assumes no obligation to
publicly update or revise its forward-looking statements as a
result of new information, future events or otherwise.
Andrew Ballou
BioSig Technologies, Inc.
Vice President, Investor Relations
55 Greens Farms Rd, 1st Floor
Westport, CT 06880
aballou@biosigtech.com
203-409-5444, x133
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