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WESTPORT, CT – BioSig Technologies, Inc. (NASDAQ:BSGM), a medical device company based in Delaware, has potentially met the stockholders’ equity requirement for continued listing on The Nasdaq Capital Market. The company, which currently shows a weak financial health score according to InvestingPro data, disclosed on Thursday that recent capital-raising efforts may have lifted its stockholders’ equity to at least $2.5 million, the threshold set by Nasdaq’s Equity Rule. The company’s current ratio of 0.5 indicates its short-term obligations exceed liquid assets.
BioSig has been actively working to align with Nasdaq’s standards since receiving a grace period until March 7, 2025, to comply with the $35 million market value of listed securities requirement or the alternative $2.5 million stockholders’ equity criterion. In efforts to bolster its financial position, BioSig sold 5,172,321 shares between January 17, 2025, and March 5, 2025, accumulating approximately $4.85 million through an At the Market Offering Agreement with H.C. Wainwright & Co., LLC, and a Securities Purchase Agreement with accredited investors.
Additionally, BioSig entered an Equity Subscription Agreement with Lind Global Fund III, LP, which grants the company the right to sell up to $5.0 million of common stock over the next 36 months. These transactions have collectively contributed to the company’s belief that it has satisfied the stockholders’ equity requirement. Based on InvestingPro’s Fair Value analysis, the stock appears fairly valued at current levels.
The company is now awaiting formal confirmation from Nasdaq regarding compliance with the Equity Rule. Should Nasdaq confirm BioSig’s compliance, the company will be subject to ongoing monitoring to ensure it maintains the necessary financial standards. Failure to demonstrate compliance in its next periodic report could result in delisting from the Nasdaq exchange.
This news is based on a press release statement from BioSig Technologies, Inc. and reflects the company’s current status in relation to Nasdaq’s listing requirements. Investors and interested parties are advised to follow official communications for further updates on the company’s compliance status.
In other recent news, BioSig Technologies, Inc. announced several important corporate updates following its annual stockholders’ meeting. The company confirmed the approval of an amendment to its 2023 Long-Term Incentive Plan, increasing the authorized shares for issuance by 3,500,000, bringing the total to 4,376,595 shares. Stockholders also voted on key proposals, including the election of five directors and a reverse stock split, which allows for a split ratio ranging from 1-for-2 to 1-for-10 at the board’s discretion within one year. The amendment to the Incentive Plan is part of BioSig’s strategy to attract and retain top talent through competitive equity compensation. Additionally, the appointment of Marcum LLP as the independent registered public accounting firm for the fiscal year ending December 31, 2024, was ratified. This decision secures Marcum LLP’s role in reviewing the company’s financial statements. These developments were based on a press release and reflect the decisions made by BioSig Technologies’ stockholders at their most recent annual meeting. The company is incorporated in Delaware and headquartered in Los Angeles, California.
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