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BioSig Technologies, Inc. (NASDAQ:BSGM), whose stock has surged over 880% in the past year according to InvestingPro data, reported Friday that shareholders approved several proposals at a special meeting, according to a statement based on a recent SEC filing. The company, currently trading near $4.41, has shown significant price volatility with its shares down about 8% in the past week.
Stockholders voted in favor of amending the company’s certificate of incorporation to increase the number of authorized shares of common stock from 200,000,000 to 500,000,000. The amendment was filed with the Secretary of State of Delaware and became effective upon filing.
Shareholders also approved an amendment to BioSig’s 2023 Long-Term Incentive Plan, increasing the total number of shares authorized for issuance under the plan by 10,359,211 to 14,735,806 shares.
Other proposals that received shareholder approval included: the issuance of shares of common stock underlying convertible debentures to YA II PN, Ltd. (Yorkville); the potential issuance of 19.99% or more of the company’s outstanding common stock under a Standby Equity Purchase Agreement with Yorkville; and the classification of the board of directors into three classes with staggered three-year terms.
Voting results for key proposals were as follows:
- The increase in authorized shares: 19,620,210 for, 339,524 against, 162,313 abstain.
- The incentive plan amendment: 15,434,968 for, 1,043,333 against, 160,313 abstain.
- The classified board proposal: 15,424,979 for, 1,009,783 against, 203,852 abstain.
The meeting was adjourned on the proposal to approve the issuance of approximately 109,070,079 shares of common stock and one share of Super Voting Preferred Stock in connection with BioSig’s acquisition of Streamex Exchange Corporation, pending Nasdaq approval. The meeting will reconvene virtually on September 26, 2025.
These details are based on a press release statement contained in the company’s Form 8-K filed with the Securities and Exchange Commission.
In other recent news, BioSig Technologies, Inc. completed an underwritten public offering, raising approximately $15 million in gross proceeds. The company sold 3,852,149 shares of common stock at $3.90 per share. BioSig intends to use the net proceeds to purchase gold bullion, in line with its investment policy, as well as for general corporate purposes and working capital. Additionally, BioSig amended its secured convertible debenture purchase agreement with YA II PN, Ltd. (Yorkville), restructuring the transaction to provide for two secured convertible debentures, each with a principal amount of $25 million. The agreement allows for further debentures totaling up to $50 million, subject to mutual agreement. The amendment also includes updates to purchase, closing, and stockholder approval provisions. These developments follow BioSig’s recent merger with Streamex Exchange Corporation.
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