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NEW YORK - BioSig Technologies, Inc. (NASDAQ:BSGM), which recently merged with Streamex Exchange Corporation, announced Friday the completion of its underwritten public offering that raised approximately $15 million in gross proceeds. The announcement comes amid strong market performance, with the stock surging 36% in the past week and an impressive 921% over the last year, according to InvestingPro data.
The company sold 3,852,149 shares of common stock at $3.90 per share, according to a press release statement. BioSig plans to use the net proceeds to purchase gold bullion in accordance with its investment policy, as well as for general corporate purposes and working capital. With a current market capitalization of $86.61 million and healthy liquidity metrics showing a current ratio of 2.37, the company maintains a stable financial position despite its recent strategic pivot.
"We now have been able to marry a short and long-term capital strategy for the company with high-quality shareholders to support this pivotal point in our development," said Henry McPhie, CEO of BioSig and Co-Founder of Streamex.
Clear Street and Needham & Company served as joint book-running managers for the offering, which was conducted pursuant to a shelf registration statement on Form S-3 declared effective by the Securities and Exchange Commission on December 17, 2024.
Following its merger with Streamex, BioSig has shifted its focus toward gold tokenization infrastructure. Streamex is described as a company building institutional grade infrastructure to bring the gold market on chain.
Prior to the merger, BioSig Technologies operated as a medical device technology company with a digital signal processing platform called PURE EP for electrophysiologists treating cardiovascular arrhythmias. Investors tracking this transformation can access comprehensive analysis and 12 additional key insights through InvestingPro, including detailed financial health metrics and future growth projections. The company’s next earnings report is scheduled for August 21, 2025.
The offering was made through a prospectus supplement filed with the SEC, with the company noting that no securities were sold in states where such sales would be unlawful without proper registration or qualification.
In other recent news, BioSig Technologies has successfully raised approximately $15 million through a public offering, selling 3,852,149 shares of common stock at $3.90 per share. This offering was part of a strategic move following BioSig’s merger with Streamex Exchange Corporation. The company intends to use the net proceeds from this offering to purchase gold bullion, aligning with its investment policy, while also supporting general corporate purposes. Additionally, BioSig has amended its debenture agreement with YA II PN, Ltd. (Yorkville), allowing for secured convertible debentures totaling up to $100 million. This amendment includes changes to purchase, closing, and stockholder approval provisions. In another development, BioSig’s subsidiary, Streamex Exchange Corporation, has engaged Compliance Exchange Group to manage the acquisition of a registered broker-dealer. This acquisition will help Streamex issue regulated Real-World Asset tokens, focusing on gold-backed digital assets. These recent developments highlight BioSig’s strategic financial maneuvers and expansion into digital asset offerings.
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