BioSig Technologies, Inc. Announces $17.5 Million Common Stock Only Registered Direct Offering
24 June 2020 - 11:20PM
BioSig Technologies, Inc. (Nasdaq: BSGM) (“BioSig” or the
“Company”) today announced that it has entered into definitive
agreements with several institutional and accredited investors for
the purchase and sale of 2,187,500 shares of the Company’s common
stock, at a purchase price of $8.00 per share, in a registered
direct offering. The closing of the offering is expected to occur
on or about June 26, 2020, subject to the satisfaction of
customary closing conditions.
The gross proceeds to the Company from this
offering are expected to be $17.5 million, before deducting
placement agent fees and other offering expenses payable by the
Company. The Company intends to use the net proceeds from this
offering to support commercialization and for working capital and
general corporate purposes.
The Special Equities Group, LLC, a division of Bradley Woods
& Co. LTD, acted as the placement agent for this
transaction.
The shares of common stock are being offered by
the Company pursuant to a "shelf" registration statement on Form
S-3 (File No. 333-230448) previously filed with the Securities and
Exchange Commission (the "SEC") on March 22, 2019, and
declared effective by the SEC on March 29, 2019. The offering
of the securities is made only by means of a prospectus, including
a prospectus supplement, forming a part of the effective
registration statement. A final prospectus supplement and
accompanying prospectus relating to the securities being offered
will be filed with the SEC. Electronic copies of the final
prospectus supplement and accompanying prospectus may be obtained,
when available, by contacting The Special Equities Group, LLC, a
division of Bradley Woods & Co. LTD, 805 Third Ave., 18th
Floor, New York, NY, 10022, at (212) 826-9191, or at the SEC's
website at http://www.sec.gov .
This press release shall not constitute an offer
to sell or a solicitation of an offer to buy these securities, 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
BioSig Technologies is a medical technology
company commercializing a proprietary biomedical signal processing
platform designed to improve signal fidelity and uncover the
full range of ECG and intra-cardiac
signals (www.biosig.com).
The Company’s first product, PURE EP(tm)
System is a computerized system intended for acquiring,
digitizing, amplifying, filtering, measuring and calculating,
displaying, recording and storing of electrocardiographic and
intracardiac signals for patients undergoing electrophysiology (EP)
procedures in an EP laboratory.
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. 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,
which include, among others, statements relating to the registered
direct offering, including as to the consummation of the offering
described above, the expected proceeds from the offering, the
intended use of proceeds and the timing of the closing of the
offering. 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;
and (vi) difficulties in securing regulatory approval to market our
products and product candidates. 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 Securities and Exchange Commission (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
54 Wilton Road, 2nd floor
Westport, CT 06880
aballou@biosigtech.com
203-409-5444, x133
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