BioSig Technologies Inc announced that it has agreed to sell $3 million of its common stock and warrants to a family office, which the company said has deep expertise in small-cap emerging growth investing.
BioSig noted the net proceeds from the offering will be used to fund working capital and continue commercialization activities related to the PURE EP System.
The company added that the funding and its existing capital should provide sufficient operating capital for BioSig to execute its current business plan.
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Under the terms of the financing agreement, BioSig will issue 2,611,739 of its common shares, at a price of $1.15 per share, plus warrants to purchase 2,611,739 shares of the company’s stock at $1.40 per share.
The offering is expected to close on or about March 23, 2022, subject to the satisfaction of customary closing conditions.
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.
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