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Investing.com-- Biosig Technologies Inc (NASDAQ:BSGM), which recently merged with Streamex Exchange Corp, said on Monday it has signed deals to raise up to $1.1 billion to expand its gold-backed investment strategy and bring real-world assets like commodities onto the blockchain.
The funding includes $100 million in convertible debt and a $1 billion equity credit line. The first part of the deal, worth $75 million, is expected to close in October, pending shareholder and regulatory approvals.
BioSig plans to use the money to hold large amounts of physical gold and use it to create digital tokens that can be traded on the blockchain.
The company said that this mix of gold and digital technology could open up new ways for people and institutions to invest in gold and other commodities.
BioSig said the move puts it on track to become one of the biggest public gold holders on Nasdaq and a leader in the growing market for digital assets backed by real-world value.
Shares of the company closed 11% higher at a two-year high of $11.55 on Monday.
In overnight trading, shares of the company surged 38.6% to $16.01.