The company said that the net proceeds from the offer will be used to finance working capital and to continue commercialization activities related to the PURE EP system.
BioSig Technologies Inc. has announced that it has agreed to sell $ 3 million of its joint stock and guarantees to a family agency, which the company said has deep expertise and small capital emerging growth investments.
BioSig notes that the net proceeds from the offer will be used to fund working capital and to continue commercialization activities related to the PURE EP system.
The company added that the funding in its existing capital should provide sufficient working capital for BioSig to execute its current business plan.
READ: BioSig Technologies has appointed John Sieckhaus as Chief Operating Officer
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 buy 2,611,739 shares of the company at $ 1.40 per share.
The offer is expected to close on or about March 23, 2022, subject to the satisfaction of the usual terms and conditions.
BioSig Technologies is a medical technology company that has commercially developed a proprietary biomedical signal processing platform to improve signal reliability and detect the full range of ECG and intra-cardiac signals.
Contact Sean at sean@proactiveinvestors.com
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