BioSig Technologies (Nasdaq:BSGM) announced today that it priced a previously announced public offering at $3.5 million.
Westport, Connecticut–based BioSig’s best efforts, underwritten public offering totals up to 4,666,667 shares of its common stock, $0.001 par value per share, at a price to the public of $0.75 per share, bringing the gross proceeds to $3.5 million.
According to a news release, the company expects the offering to close on June 28, 2022, subject to customary closing conditions. Laidlaw & Company (UK) Ltd. is acting as the sole book-running manager for the offering.
BioSig, which develops a biomedical signal processing platform for electrocardiogram (ECG) and intra-cardiac signals, intends to use the net proceeds from the offering for commercialization activities related to its Pure EP system, including additional support for organizational development. Funds are also earmarked for working capital and for general corporate purposes and other capital expenditures.
The $3.5 million raised by BioSig adds to a definitive purchase agreement to sell $3 million in common stock struck in March of this year.