BioSig Technologies, Inc. (OTCQB: BSGM) is engaged as a medical device manufacturer, which focuses on electrophysiology. Shares of the medical device company are down 9.21%, through afternoon trading on Friday, August 4, 2017. Over the past month, BioSig Technologies, Inc. has seen average daily volume of 20,675 shares. However, volume of 47,722 shares or dollar volume of $65,856, has already exchanged hands on Friday.
Shares of BioSig Technologies, Inc. are facing pressure today, after the company filed an S-1 form. Under the terms of the form, the company is proposing sale of up to 3,365,002 common stock shares and 2,102,422 shares of common stock through purchase warrants. Here is part of the S-1 form, detailing of the proposed offering:
BioSig Technologies, Inc. S-1 Form:
This prospectus relates to the resale of up to (i) 3, 365,002 shares of our common stock to be offered by the selling stockholders and (ii) 2, 102,422 shares of our common stock to be offered by the selling stockholders upon the exercise of outstanding common stock purchase warrants.
Our common stock trades in the over-the-counter market and is quoted on the OTCQB tier of the OTC Markets Group, Inc. under the symbol “BSGM.” Only a limited public market currently exists for our common stock. On July 31 , 2017, the last reported sale price of our shares of common stock on the OTCQB was $1. 45 per share.
We will not receive any of the proceeds from the sale of common stock by the selling stockholders. However, we will receive proceeds from the exercise of the warrants if the warrants are exercised for cash. We intend to use those proceeds, if any, for general corporate purposes. All expenses of registration incurred in connection with this offering are being borne by us, but all selling and other expenses incurred by the selling stockholders will be borne by the selling stockholders.
We qualify as an “emerging growth company” as defined in the Jumpstart our Business Startups Act of 2012, or JOBS Act, and have elected to comply with certain reduced public company reporting requirements in this and future filings.
Investing in our common stock is highly speculative and involves a high degree of risk. You should carefully consider the risks and uncertainties in the section entitled “Risk Factors” beginning on page 3 of this prospectus before making a decision to purchase our stock.
We may amend or supplement this prospectus from time to time by filing amendments or supplements as required. You should read the entire prospectus and any amendments or supplements carefully before you make your investment decision.
Neither the Securities and Exchange Commission nor any state securities commission has approved or disapproved of these securities or passed upon the adequacy or accuracy of this prospectus. Any representation to the contrary is a criminal offense.
Here is the link to the full S-1 Form: http://www.otcmarkets.com/edgar/GetFilingHtml?FilingID=12211058