Why BioSig Technologies (BSGM) Shares Are Falling
Portfolio Pulse from Henry Khederian
BioSig Technologies (BSGM) shares fell by 17% to $1.99 after announcing a $3 million registered direct offering of 1,570,683 shares at $1.91 per share. Additionally, the company will issue unregistered warrants in a concurrent private placement. The proceeds will be used for working capital and general corporate purposes.
May 30, 2024 | 1:55 pm
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BioSig Technologies shares fell by 17% to $1.99 after the company announced a $3 million registered direct offering and a concurrent private placement of unregistered warrants. The proceeds will be used for working capital and general corporate purposes.
The announcement of a direct offering and issuance of unregistered warrants typically dilutes existing shares, leading to a drop in share price. The 17% decline reflects investor concerns about dilution and the company's financial health.
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IMPORTANCE 80
RELEVANCE 100