BioSig Technologies, Inc. Implements $3 Million Registered Direct Offering, Fueling Advancements in Intracardiac Signal Visualization

BioSig Technologies, Inc. (NASDAQ: BSGM) has recently made a significant announcement regarding its financial transactions. The medical technology company, focused on providing precise and accurate intracardiac signal visualization, disclosed that it has entered into definitive agreements for a registered direct offering. This offering will involve the issuance and sale of 1,570,683 shares of its common stock at a price of $1.91 per share, under Nasdaq rules. In addition, BioSig will also be conducting a concurrent private placement, issuing unregistered warrants to the same purchasers, allowing them to purchase up to 1,570,683 shares of common stock at an exercise price of $1.78 per share.

The offering, expected to close on or around May 30, 2024, is subject to customary closing conditions. BioSig aims to utilize the capital raised from this offering for its ongoing research and development efforts, as well as for general corporate purposes. The company is committed to advancing its medical technology solutions, enhancing accuracy and precision in intracardiac signal visualization for the benefit of both medical professionals and patients.

This announcement comes in the wake of BioSig Technologies witnessing an increase in its Current Liabilities during the second quarter of 2023. Consequently, the Working Capital Ratio fell to 0.6, which is below the company's average Working Capital Ratio. It is worth noting that within the same industry, 177 other companies recorded higher Working Capital Ratios in the second quarter of 2023. However, when compared to all other companies, Biosig Technologies Inc now ranks higher after attaining a Working Capital Ratio of 0.76 in the first quarter of 2023, now standing at 3992.

Looking at the trailing twelve-month basis, the increase in Current Liabilities during the second quarter of 2023 led to a cumulative decrease in the Working Capital Ratio to 0.7, falling below Biosig Technologies Inc's average for the trailing twelve months. Additionally, in the past twelve months, 244 other companies in the industry achieved superior figures in terms of Working Capital Ratio compared to Biosig Technologies Inc. As a result, the company's overall ranking for Working Capital Ratio has deteriorated from 3134 in the first quarter of 2023 to 4255.

In conclusion, BioSig Technologies Inc's recent announcement of a registered direct offering showcases the company's commitment to advance their medical technology solutions. This offering will provide BioSig with the necessary capital to expand their research and development efforts, ultimately enhancing accuracy and precision in intracardiac signal visualization.

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