BioSig Technologies (BSGM) shares jumped over 20% in pre-market trading hours on Tuesday after the company secured definitive agreements for up to $1.1 billion in growth financing. The money is to support its new gold-backed treasury management strategy. With this approach, BioSig aims to become one of the biggest gold-holding companies listed on Nasdaq following its recent merger with Streamex Exchange Corporation. As of writing, BSGM stock is up 3% in regular trading.
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BioSig, originally focused on medical device technology, expanded into digital assets with its acquisition of Streamex in May. The company is now venturing into real-world asset tokenization, with Streamex placing a major bet on gold-backed digital currencies—predicting they could surpass Bitcoin in popularity.
BioSig Lands $1.1B Funding
BioSig’s funding deal includes $100 million in convertible notes and a $1 billion equity credit line. The first portion, worth $75 million, is expected to close by October, pending shareholder and regulatory approvals.
The company plans to use the capital to buy large amounts of physical gold, which it will then tokenize for blockchain trading. BioSig sees this blend of traditional assets and blockchain technology as a way to open up new investment avenues for investors looking to invest in gold and other commodities.
BioSig’s CEO, Henry McPhie, stated that this funding is a major milestone, not just for BioSig and Streamex, but also for the broader financial industry. He emphasizes that by merging the stability of physical gold with the advanced capabilities of blockchain, they aim to build a business rooted in stability and long-term value.
Is BSGM a Buy or Sell?
Wall Street coverage on BioSig is limited. According to TipRanks, BSGM stock holds a Moderate Buy rating based on a single Buy recommendation from Ascendiant Capital. The average BioSig stock price target stands at $10.00, suggesting an 18% downside from current levels.
