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BioSig Technologies raises $4.3M via private placement

Santa Monica, Calif.-based BioSig Technologies Inc. raised about $4.3 million via a private placement of common shares and accompanying warrants.

The company offered its shares at $2.28 apiece, which included 0.25 of two separate series of warrants. One series of warrants can be exchanged for a common stock of the company at $1.50 each for a period of nine months, while the other can be exercised for $2.74 per share anytime over a three-year term.

The healthcare technology company said it has raised about $11.0 million so far this year via multiple common stock placements.

BioSig believes the capital raise positions the company to pursue commercialization of its Pure EP system, subject to U.S. regulatory approval. Pure EP is used to diagnose and treat patients with abnormal heart rates and rhythms.

OTCQB-listed BioSig is also looking to list on Nasdaq and said it has now satisfied the minimum equity requirement to be listed on the stock exchange in the near future with the help of the placements.

Laidlaw & Co. (UK) Ltd. in New York participated in the private placement.