BioSig Announces $2.5 Million Registered Direct Offering Priced At-the-Market Under Nasdaq Rules

Westport, CT, Nov. 09, 2023 (GLOBE NEWSWIRE) -- Westport, CT, Nov. 9, 2023 -- BioSig Technologies, Inc. (NASDAQ: BSGM) (“BioSig” or the “Company”) a medical technology company committed to delivering unprecedented accuracy and precision to intracardiac signal visualization, today announced that it has entered into a definitive agreement for the issuance and sale of an aggregate of 6,996,922 shares of its common stock, Series A warrants to purchase up to 6,996,922 shares of common stock and Series B warrants to purchase up to 6,996,922 shares of common stock, at a purchase price of $0.3573 per share of common stock and associated warrants, in a registered direct offering priced at-the-market under Nasdaq rules. 

H.C. Wainwright & Co. is acting as exclusive placement agent for the offering.

The warrants will have an exercise price of $0.3573 per share, will become exercisable on the effective date of stockholder approval for the issuance of the shares upon exercise of the warrants (or payment of $0.125 per share). The Series A warrants will expire five years from the date of issuance and the Series B warrants will expire eighteen months from the date of issuance.

The closing of the offering is expected to occur on or about November 13, 2023, subject to the satisfaction of customary closing conditions. The gross proceeds from the offering are expected to be approximately $2.5 million. BioSig intends to use the net proceeds of this offering for working capital and general corporate purposes.

The securities described above are being offered by BioSig pursuant to a shelf registration statement on Form S-3 (File No. 333-251859) that was previously filed with the Securities and Exchange Commission (“SEC”) on December 31, 2020, and subsequently declared effective on January 12, 2021. The securities offered in the registered direct offering are being offered only by means of a prospectus, including a prospectus supplement, forming a part of the effective registration statement. A final prospectus supplement and accompanying base prospectus relating to, and describing the terms of, the registered direct offering will be filed with the SEC and will be available on the SEC's website at www.sec.gov. Electronic copies of the final prospectus supplement and the accompanying base prospectus relating to the registered direct offering, when available, may also be obtained by contacting H.C. Wainwright & Co., LLC, at 430 Park Ave., New York, New York 10022, by telephone at [phone], or by email at [e-mail].