BioSig Technologies, Inc Closes $17.5 Million Common Stock Offering

Westport, CT, June 29, 2020 (GLOBE NEWSWIRE) -- BioSig Technologies, Inc. (Nasdaq: BSGM) (“BioSig” or the “Company”) and its majority-owned subsidiary, ViralClear Pharmaceuticals, Inc., today announced that it has closed on the sale of 2,187,500 shares of the Company’s common stock, at a purchase price of $8.00 per share, in a registered direct offering. The closing of the offering occurred on June 26, 2020.

The gross proceeds to the Company from this offering were $17.5 million, before deducting placement agent fees and other offering expenses payable by the Company. The Company intends to use the net proceeds from this offering to support commercialization, for working capital and general corporate purposes. 

Ken Londoner, Chairman and CEO of BioSig Technologies, Inc., stated, "Our business performance remained strong in the second quarter of this year despite the challenging economic environment. We are pleased to see a growing demand for PURE EP Systems, with several centers awaiting installations.  Our ViralClear subsidiary made tremendous progress with commencing the patient enrollment into Phase II clinical trial at a number of sites and is on track with the plan shared with investors on recent investor calls. These additional funds will allow us to continue to create shareholder value through timely execution.”

The Special Equities Group, LLC, a division of Bradley Woods & Co. LTD, acted as the placement agent for this transaction.

The shares of common stock were offered by the Company pursuant to a "shelf" registration statement on Form S-3 (File No. 333-230448) previously filed with the Securities and Exchange Commission (the "SEC") on March 22, 2019, and declared effective by the SEC on March 29, 2019. The offering of the securities was made only by means of a prospectus, including a prospectus supplement, forming a part of the effective registration statement. A final prospectus supplement and accompanying prospectus relating to the securities being offered will be filed with the SEC. Electronic copies of the final prospectus supplement and accompanying prospectus may be obtained, when available, by contacting The Special Equities Group, LLC, a division of Bradley Woods & Co. LTD, 805 Third Ave., 18th Floor, New York, NY, 10022, at [phone], or at the SEC's website at http://www.sec.gov .