BioSig Announces Closing of Public Offering of Common Stock
June 29 2022 - 5:45PM
BioSig Technologies, Inc. (NASDAQ: BSGM) (“BioSig” or the
“Company”) a medical technology company advancing electrophysiology
workflow by delivering greater intracardiac signal fidelity through
its proprietary signal processing platform, today announced the
closing and funding of its previously announced best efforts
underwritten public offering.
The Company has closed the offering with the sale of 4,341,667
shares of its common stock at a price to the public of $0.75 per
share, for total gross proceeds to BioSig from this offering of
$3,256,250.25 before deducting the underwriting discounts and other
estimated offering expenses payable by BioSig.
Laidlaw & Company (UK) Ltd. acted as sole book-running
manager for the offering.
BioSig intends to use the net proceeds from the offering for the
continuation of commercialization activities related to the PURE
EP(TM) System, including additional support for organizational
development, to fund working capital, and for general corporate
purposes and other capital expenditures.
A shelf registration statement on Form S-3 (Registration No.
333-251859) relating to the public offering of the shares of common
stock described above was previously filed with the Securities and
Exchange Commission (“SEC”) and declared effective on January 12,
2021. A final prospectus supplement and accompanying prospectus
relating to the underwritten public offering have been filed with
the SEC on June 28, 2022 and are available on the SEC’s website at
www.sec.gov. Copies of the final prospectus supplement and
accompanying prospectus relating to the offering may be obtained
from Laidlaw & Company (UK) Ltd., 521 Fifth Ave., 12th Floor,
New York, NY 10175, Attention: Syndicate Dept.; email:
syndicate@laidlawltd.com.
This press release shall not constitute an offer to sell or the
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 registration or qualification under the securities laws of any
such state or other jurisdiction. Any offer, if at all, will be
made only by means of the prospectus supplement and accompanying
prospectus forming a part of the effective registration
statement.
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 novel
signal processing and acquisition platform designed to extract
advanced diagnostic and therapeutic data that enhances physician
workflow and increases throughput. PURE EP(TM) was engineered to
address the limitations of existing EP technologies by empowering
physicians with superior signals and actionable insights.
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.
Such risks and uncertainties include, without limitation, risks and
uncertainties associated with (i) market conditions and the
Company’s intended use of proceeds, (ii) the geographic, social and
economic impact of COVID-19 on our ability to conduct our business
and raise capital in the future when needed, (iii) our inability to
manufacture our products and product candidates on a commercial
scale on our own, or in collaboration with third parties; (iv)
difficulties in obtaining financing on commercially reasonable
terms; (v) changes in the size and nature of our competition; (vi)
loss of one or more key executives or scientists; and (vii)
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
55 Greens Farms Road, 1st Floor
Westport, CT 06880
aballou@biosigtech.com
203-409-5444, x133
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