BioSig Technologies prices 1.57M shares at $1.91 in registered direct offering

BioSig Technologies has entered into definitive agreements for the issuance and sale of an aggregate of 1,570,683 shares of its common stock at a purchase price of $1.91 per share in a registered direct offering priced at-the-market under Nasdaq rules. In a concurrent private placement, BioSig has also agreed to issue and sell to the same purchasers unregistered warrants to purchase up to 1,570,683 shares of common stock at an exercise price of $1.78 per share. The unregistered warrants will become immediately exercisable upon issuance and will expire five years from the date of issuance. The closing of the offering is expected to occur on or about May 30, 2024, subject to the satisfaction of customary closing conditions. H.C. Wainwright & Co. is acting as exclusive placement agent for the offering. The gross proceeds to the Company from the offering are expected to be approximately $3 million, before deducting placement agent fees and other offering expenses payable by the Company. BioSig intends to use the net proceeds of this offering for working capital and general corporate purposes.