BioSig Technologies Announces Intent To Acquire Assets Of Neuro-Kinesis Corporation; Non-Binding LOI Executed; Purchase Price In BioSig Common Stock; NKC To Provide $2.5M-$6M Unrestricted Cash At Closing
Portfolio Pulse from Benzinga Newsdesk
BioSig Technologies has announced its intent to acquire the assets of Neuro-Kinesis Corporation. A non-binding letter of intent has been executed, with the purchase price to be paid in BioSig common stock. Neuro-Kinesis Corporation will provide $2.5M-$6M in unrestricted cash at closing. Due diligence will continue through the end of the year, and full disclosures will be made in the next proxy statement for a shareholder vote.
July 31, 2024 | 1:47 pm
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BioSig Technologies has announced its intent to acquire the assets of Neuro-Kinesis Corporation, with the purchase price in BioSig common stock and Neuro-Kinesis providing $2.5M-$6M in unrestricted cash at closing. Due diligence will continue through the end of the year, with full disclosures in the next proxy statement for a shareholder vote.
The acquisition of Neuro-Kinesis Corporation's assets by BioSig Technologies is likely to be viewed positively by investors, as it could enhance BioSig's technological capabilities and financial position. The provision of $2.5M-$6M in unrestricted cash at closing is also a positive factor. The continuation of due diligence and the need for shareholder approval introduce some uncertainty, but the overall impact is likely to be positive in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100