Thursday, June 30, 2022

BioSig Technologies (BSGM)
BioSig Closes Common Share Offering

BioSig Technologies is a medical technology company commercializing a proprietary biomedical signal processing platform designed to improve signal fidelity and uncover the full range of ECG and intra-cardiac signals (www.biosig.com). The Company’s first product, PURE EP(TM) System is a computerized system intended for acquiring, digitizing, amplifying, filtering, measuring and calculating, displaying, recording and storing of electrocardiographic and intracardiac signals for patients undergoing electrophysiology (EP) procedures in an EP laboratory.

Gregory Aurand, Senior Research Analyst, Healthcare Services & Medical Devices, Noble Capital Markets, Inc.

Refer to the full report for the price target, fundamental analysis, and rating.

Offering priced. Last Friday, June 24, 2022, BioSig Technologies priced a public offering of common shares on a “best efforts” basis.  The offering was for up to 4.666667 million shares at a price of $0.75 per share. The offering closed on June 29, 2022 with 4.341667 million shares sold, and proceeds to the company of around $2.9 million. 

A bit unexpected, timing-wise, but supports PURE EP commercialization.  BioSig had filed an ATM agreement for up to $10 million May 17, 2022 but chose an alternative “best efforts” offering instead.  While we expected funding needs in the third quarter, we are bit surprised the Company raised funds now. That said, BioSig is ramping up commercial activities as they shift to a national strategy….

This Company Sponsored Research is provided by Noble Capital Markets, Inc., a FINRA and S.E.C. registered broker-dealer (B/D).

*Analyst certification and important disclosures included in the full report. NOTE: investment decisions should not be based upon the content of this research summary. Proper due diligence is required before making any investment decision.