BioSig Technologies Updates on Merger and Share Issuance Plans
BioSig Technologies Provides Merger Update
LOS ANGELES and VANCOUVER, British Columbia — BioSig Technologies, Inc. (NASDAQ: BSGM), recently provided a significant update regarding its merger with Streamex Exchange Corporation. The recent developments aim to clarify the status of the merger and ensure all shareholders are informed.
Details of the Merger Finalization
The merger between BioSig and Streamex officially closed on May 28, and as stipulated in their Share Purchase Agreement, 19.99% of BioSig's shares will be issued to Streamex shareholders. However, the remaining share issuances are contingent upon receiving the necessary approval from Nasdaq.
Upcoming Special Meeting and Proxy Filings
The company's Board of Directors has decided that, due to the current pending approval from Nasdaq, Proposal No. 1, which pertains to the acquisition, will not be actioned during the Special Meeting scheduled for September 5. Instead, it will be postponed until a later date that will be communicated to shareholders at that meeting.
Despite the closure of the merger with Streamex, the formal approval for the issuance of the remaining shares requires action from the stockholders. This will take place at the reconvened Special Meeting where shareholders will have the opportunity to vote.
Impact of the Share Issuance Decision
The decision to remove Proposal No. 1 from the agenda does not affect other important aspects of the business. The merger's closing will continue unabated, and the timelines for any financing the company is undertaking will remain intact. Additionally, regular operations will persist without interruption.
Other Proposals at Upcoming Special Meeting
All remaining proposals that are outlined in BioSig’s definitive proxy statement will proceed as planned at the Special Meeting. Shareholders can remain assured that these proposals are being addressed as intended and will be part of the discussions as they occur.
About Streamex and Its Role
Streamex is recognized for its advancements in tokenization technology, specifically for creating institutional-grade infrastructure that facilitates the trading of gold and commodities on a digital platform. As a wholly owned subsidiary of BioSig Technologies, Streamex embodies the innovative spirit of the company as it transitions the commodities market into the digital age.
About BioSig Technologies
BioSig Technologies, Inc. stands at the forefront of medical device technology with its revolutionary digital signal processing platform known as PURE EP™. This cutting-edge technology plays a crucial role in delivering precise insights to electrophysiologists, particularly in the ablation treatments for cardiovascular arrhythmias, bolstering the efficiency and effectiveness of such procedures.
Frequently Asked Questions
What is the current status of the merger between BioSig and Streamex?
The merger was closed on May 28, but the issuance of the remaining shares depends on Nasdaq's approval.
When is the Special Meeting scheduled to take place?
The Special Meeting is set for September 5, but Proposal No. 1 will be adjourned to a later date.
How many shares will be issued to Streamex shareholders?
Initially, 19.99% of BioSig shares will be issued, pending Nasdaq's formal approval.
Does changing the agenda for the Special Meeting affect merger operations?
No, the removal of Proposal No. 1 does not impact the merger's closing or the company's ongoing operations.
What technologies does BioSig offer for medical professionals?
BioSig's PURE EP™ Platform offers advanced insights for electrophysiologists for treating cardiovascular arrhythmias.
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