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.
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