BioSig Technologies, Inc. (NASDAQ:BSGM) has announced the pricing of its previously-announced 'best efforts' underwritten public offering of up to 4,666,667 shares of its common stock, $0.001 par value per share, at a price to the public of $0.75 per share.
The gross proceeds to BioSig from this offering are expected to be $3,500,000.25, before deducting the underwriting discount and other estimated offering expenses payable by BioSig. The offering is expected to close on June 28, 2022, subject to customary closing conditions.
BioSig said it intends to use the net proceeds from the offering for the continuation of commercialization activities related to the PURE EP System, including additional support for organizational development, to fund working capital, and for general corporate purposes and other capital expenditures.
Laidlaw & Company (UK) Ltd. is acting as sole book-running manager for the offering.
READ: BioSig Technologies enters deal for Cleveland Clinic to evaluate its PURE EP signal processing platform
A shelf registration statement on Form S-3 (Registration No. 333-251859) relating to the public offering of the shares of common stock was previously filed with the Securities and Exchange Commission (SEC) and declared effective on January 12, 2021.
A preliminary prospectus supplement and accompanying prospectus relating to the underwritten public offering will be filed with the SEC.
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.
The company's first product, PURE EP 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.
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Contact the author at jon.hopkins@proactiveinvestors.com