[8-K] BioSig Technologies, Inc. Reports Material Event
BioSig Technologies amended a secured convertible debenture purchase agreement with YA II PN, Ltd. (Yorkville). The Amendment revises the transaction structure to provide a first secured convertible debenture in the principal amount of $25,000,000 and a second secured convertible debenture in the principal amount of $25,000,000, with additional secured convertible debentures available in an aggregate principal amount of up to $50,000,000 only upon mutual agreement of the parties.
The Amendment also modifies certain purchase, closing and stockholder approval provisions and updates related terms, including setting the conversion floor price at 20% of the Nasdaq Official Closing Price immediately prior to the date of entry into the original Debenture Purchase Agreement. The full Amendment is filed as Exhibit 10.1.
BioSig Technologies ha modificato un accordo di acquisto di debiti convertibili garantiti con YA II PN, Ltd. (Yorkville). L'emendamento rivede la struttura della transazione prevedendo un primo debito convertibile garantito per un importo nominale di $25,000,000 e un secondo debito convertibile garantito per un importo nominale di $25,000,000, con ulteriori debiti convertibili garantiti disponibili per un importo nominale aggregato fino a $50,000,000 solo previo accordo reciproco delle parti.
L'emendamento modifica anche alcune disposizioni relative all'acquisto, alla chiusura e all'approvazione degli azionisti e aggiorna i termini correlati, incluso fissare il prezzo minimo di conversione al 20% del prezzo ufficiale di chiusura della Nasdaq immediatamente precedente alla data di sottoscrizione del contratto di acquisto originario. L'intero emendamento 猫 depositato come Allegato 10.1.
BioSig Technologies enmend贸 un acuerdo de compra de pagar茅s convertibles garantizados con YA II PN, Ltd. (Yorkville). La Enmienda revisa la estructura de la operaci贸n para establecer un primer pagar茅 convertible garantizado por un principal de $25,000,000 y un segundo pagar茅 convertible garantizado por un principal de $25,000,000, con pagar茅s convertibles garantizados adicionales disponibles por un importe principal agregado de hasta $50,000,000 solo mediante acuerdo mutuo de las partes.
La Enmienda tambi茅n modifica ciertas disposiciones de compra, cierre y aprobaci贸n de accionistas y actualiza t茅rminos relacionados, incluyendo fijar el precio m铆nimo de conversi贸n en 20% del Precio Oficial de Cierre de Nasdaq inmediatamente anterior a la fecha de celebraci贸n del Acuerdo de Compra de Pagar茅s original. La Enmienda completa se presenta como Anexo 10.1.
BioSig Technologies電� YA II PN, Ltd. (Yorkville)鞕�鞚� 雼措炒攵� 鞝勴櫂靷眲 毵るГ瓿勳暯鞚� 靾橃爼頄堨姷雼堧嫟. 鞚� 靾橃爼鞎堨潃 瓯半灅 甑“毳� 氤�瓴巾晿鞐� 鞗愱笀 $25,000,000鞚� 觳� 氩堨Ц 雼措炒攵� 鞝勴櫂靷眲鞕� 鞗愱笀 $25,000,000鞚� 霊� 氩堨Ц 雼措炒攵� 鞝勴櫂靷眲毳� 鞝滉车頃橁碃, 於旉皜 雼措炒攵� 鞝勴櫂靷眲電� 雼轨偓鞛愲摛 臧勳潣 靸來樃 頃╈潣臧� 鞛堨潉 瓴届毎鞐愲 齑濎暋 斓滊寑 $50,000,000旯岇 鞚挫毄 臧�電ロ晿霃勲 頃╇媹雼�.
霕愴暅 靾橃爼鞎堨潃 鞚茧秬 毵れ垬, 膦呹舶 氚� 欤检＜ 鞀轨澑 臁绊暛鞚� 氤�瓴巾晿瓿� 甏�霠� 臁瓣贝鞚� 鞐呺嵃鞚错姼頃橂┌, 鞝勴櫂 斓滌爛臧�瓴╈潉 鞗愲灅 鞝勴櫂靷眲 毵るГ瓿勳暯 觳搓舶 歆侅爠鞚� 雮橃姢雼� 瓿奠嫕 膦呹皜鞚� 20%搿� 靹れ爼頃╇媹雼�. 鞝勳泊 靾橃爼鞎堨潃 鞝勳嫓氍� 10.1搿� 鞝滌稖霅橃棃鞀惦媹雼�.
BioSig Technologies a modifi茅 un accord d'achat d'obligations convertibles garanties avec YA II PN, Ltd. (Yorkville). L'amendement revoit la structure de l'op茅ration afin de pr茅voir une premi猫re obligation convertible garantie d'un montant nominal de $25,000,000 et une seconde obligation convertible garantie d'un montant nominal de $25,000,000, des obligations convertibles garanties suppl茅mentaires 茅tant disponibles pour un montant nominal agr茅g茅 allant jusqu'脿 $50,000,000 uniquement d'un commun accord entre les parties.
L'amendement modifie 茅galement certaines dispositions relatives 脿 l'achat, 脿 la cl么ture et 脿 l'approbation des actionnaires et met 脿 jour les termes connexes, notamment en fixant le prix plancher de conversion 脿 20% du cours officiel de cl么ture Nasdaq imm茅diatement pr茅c茅dent la date de signature de l'accord d'achat initial. L'amendement complet est d茅pos茅 en tant que Exhibit 10.1.
BioSig Technologies hat die Vereinbarung zum Kauf gesicherter wandelbarer Schuldverschreibungen mit YA II PN, Ltd. (Yorkville) ge盲ndert. Die 脛nderung 眉berarbeitet die Transaktionsstruktur und sieht eine erste gesicherte wandelbare Schuldverschreibung mit einem Nennbetrag von $25,000,000 und eine zweite gesicherte wandelbare Schuldverschreibung mit einem Nennbetrag von $25,000,000 vor; zus盲tzliche gesicherte wandelbare Schuldverschreibungen stehen nur nach gegenseitiger Vereinbarung der Parteien in einem Gesamtnennbetrag von bis zu $50,000,000 zur Verf眉gung.
Die 脛nderung passt au脽erdem bestimmte Bestimmungen zum Kauf, zum Closing und zur Zustimmung der Aktion盲re an und aktualisiert damit zusammenh盲ngende Bedingungen, einschlie脽lich der Festlegung des Mindestumwandlungspreises auf 20% des offiziellen Nasdaq鈥慡chlusskurses unmittelbar vor dem Datum des Inkrafttretens der urspr眉nglichen Kaufvereinbarung f眉r Schuldverschreibungen. Die vollst盲ndige 脛nderung ist als Exhibit 10.1 eingereicht.
- Defines staged secured financing: Establishes a first $25,000,000 and second $25,000,000 secured convertible debenture, creating a clear funding structure.
- Optional additional capacity: Permits up to $50,000,000 in additional secured convertible debentures by mutual agreement, allowing potential further capital if both parties consent.
- Conversion floor specified: Sets a concrete conversion floor at 20% of the Nasdaq Official Closing Price, removing uncertainty about a conversion pricing mechanism.
- Potential dilution: Convertible debentures, if converted, will dilute existing shareholders; the Amendment makes conversion mechanics explicit.
- Low conversion floor: The 20% floor could permit conversions at a steep discount to market price, increasing dilution severity.
- Secured claim priority: Debentures are secured, which may prioritize these creditors over unsecured stakeholders in adverse scenarios.
- Additional issuance not guaranteed: Further debentures up to $50,000,000 require mutual agreement and may be withheld at either partys sole discretion.
Insights
TL;DR: Material financing amendment creates $50M initial secured convertible structure with optional additional capacity, improving funding flexibility but raising dilution concerns.
The Amendment explicitly establishes two secured convertible debentures of $25,000,000 each and permits up to an additional $50,000,000 by mutual agreement. These provisions are material because they define the principal amounts, security status and conversion mechanics that will affect the companys capital structure. The set conversion floor at 20% of the Nasdaq Official Closing Price is a concrete term that limits conversion price but could enable conversion at a substantial discount to prevailing market prices. Changes to purchase, closing and stockholder approval provisions indicate amended governance and execution mechanics tied to the financing. Overall, this is a mixed, material financing event that improves potential liquidity while introducing conversion-related dilution risk.
TL;DR: The Amendment secures staged convertible funding and grants discretionary ability for further issuance, creating potential shareholder dilution and governance implications.
The explicit terms鈥攖wo secured convertible debentures of $25,000,000 each and additional debentures up to $50,000,000 only by mutual consent鈥攅stablish both committed tranches and optional capacity. The secured nature gives lender priority over unsecured stakeholders, and the 20% conversion floor fixes a low-side conversion threshold relative to the reference Nasdaq price. Modifications to stockholder approval and closing mechanics may affect timetables for realization and shareholder rights. Given these elements, the Amendment is material and carries governance and dilution implications that investors should note.
BioSig Technologies ha modificato un accordo di acquisto di debiti convertibili garantiti con YA II PN, Ltd. (Yorkville). L'emendamento rivede la struttura della transazione prevedendo un primo debito convertibile garantito per un importo nominale di $25,000,000 e un secondo debito convertibile garantito per un importo nominale di $25,000,000, con ulteriori debiti convertibili garantiti disponibili per un importo nominale aggregato fino a $50,000,000 solo previo accordo reciproco delle parti.
L'emendamento modifica anche alcune disposizioni relative all'acquisto, alla chiusura e all'approvazione degli azionisti e aggiorna i termini correlati, incluso fissare il prezzo minimo di conversione al 20% del prezzo ufficiale di chiusura della Nasdaq immediatamente precedente alla data di sottoscrizione del contratto di acquisto originario. L'intero emendamento 猫 depositato come Allegato 10.1.
BioSig Technologies enmend贸 un acuerdo de compra de pagar茅s convertibles garantizados con YA II PN, Ltd. (Yorkville). La Enmienda revisa la estructura de la operaci贸n para establecer un primer pagar茅 convertible garantizado por un principal de $25,000,000 y un segundo pagar茅 convertible garantizado por un principal de $25,000,000, con pagar茅s convertibles garantizados adicionales disponibles por un importe principal agregado de hasta $50,000,000 solo mediante acuerdo mutuo de las partes.
La Enmienda tambi茅n modifica ciertas disposiciones de compra, cierre y aprobaci贸n de accionistas y actualiza t茅rminos relacionados, incluyendo fijar el precio m铆nimo de conversi贸n en 20% del Precio Oficial de Cierre de Nasdaq inmediatamente anterior a la fecha de celebraci贸n del Acuerdo de Compra de Pagar茅s original. La Enmienda completa se presenta como Anexo 10.1.
BioSig Technologies電� YA II PN, Ltd. (Yorkville)鞕�鞚� 雼措炒攵� 鞝勴櫂靷眲 毵るГ瓿勳暯鞚� 靾橃爼頄堨姷雼堧嫟. 鞚� 靾橃爼鞎堨潃 瓯半灅 甑“毳� 氤�瓴巾晿鞐� 鞗愱笀 $25,000,000鞚� 觳� 氩堨Ц 雼措炒攵� 鞝勴櫂靷眲鞕� 鞗愱笀 $25,000,000鞚� 霊� 氩堨Ц 雼措炒攵� 鞝勴櫂靷眲毳� 鞝滉车頃橁碃, 於旉皜 雼措炒攵� 鞝勴櫂靷眲電� 雼轨偓鞛愲摛 臧勳潣 靸來樃 頃╈潣臧� 鞛堨潉 瓴届毎鞐愲 齑濎暋 斓滊寑 $50,000,000旯岇 鞚挫毄 臧�電ロ晿霃勲 頃╇媹雼�.
霕愴暅 靾橃爼鞎堨潃 鞚茧秬 毵れ垬, 膦呹舶 氚� 欤检＜ 鞀轨澑 臁绊暛鞚� 氤�瓴巾晿瓿� 甏�霠� 臁瓣贝鞚� 鞐呺嵃鞚错姼頃橂┌, 鞝勴櫂 斓滌爛臧�瓴╈潉 鞗愲灅 鞝勴櫂靷眲 毵るГ瓿勳暯 觳搓舶 歆侅爠鞚� 雮橃姢雼� 瓿奠嫕 膦呹皜鞚� 20%搿� 靹れ爼頃╇媹雼�. 鞝勳泊 靾橃爼鞎堨潃 鞝勳嫓氍� 10.1搿� 鞝滌稖霅橃棃鞀惦媹雼�.
BioSig Technologies a modifi茅 un accord d'achat d'obligations convertibles garanties avec YA II PN, Ltd. (Yorkville). L'amendement revoit la structure de l'op茅ration afin de pr茅voir une premi猫re obligation convertible garantie d'un montant nominal de $25,000,000 et une seconde obligation convertible garantie d'un montant nominal de $25,000,000, des obligations convertibles garanties suppl茅mentaires 茅tant disponibles pour un montant nominal agr茅g茅 allant jusqu'脿 $50,000,000 uniquement d'un commun accord entre les parties.
L'amendement modifie 茅galement certaines dispositions relatives 脿 l'achat, 脿 la cl么ture et 脿 l'approbation des actionnaires et met 脿 jour les termes connexes, notamment en fixant le prix plancher de conversion 脿 20% du cours officiel de cl么ture Nasdaq imm茅diatement pr茅c茅dent la date de signature de l'accord d'achat initial. L'amendement complet est d茅pos茅 en tant que Exhibit 10.1.
BioSig Technologies hat die Vereinbarung zum Kauf gesicherter wandelbarer Schuldverschreibungen mit YA II PN, Ltd. (Yorkville) ge盲ndert. Die 脛nderung 眉berarbeitet die Transaktionsstruktur und sieht eine erste gesicherte wandelbare Schuldverschreibung mit einem Nennbetrag von $25,000,000 und eine zweite gesicherte wandelbare Schuldverschreibung mit einem Nennbetrag von $25,000,000 vor; zus盲tzliche gesicherte wandelbare Schuldverschreibungen stehen nur nach gegenseitiger Vereinbarung der Parteien in einem Gesamtnennbetrag von bis zu $50,000,000 zur Verf眉gung.
Die 脛nderung passt au脽erdem bestimmte Bestimmungen zum Kauf, zum Closing und zur Zustimmung der Aktion盲re an und aktualisiert damit zusammenh盲ngende Bedingungen, einschlie脽lich der Festlegung des Mindestumwandlungspreises auf 20% des offiziellen Nasdaq鈥慡chlusskurses unmittelbar vor dem Datum des Inkrafttretens der urspr眉nglichen Kaufvereinbarung f眉r Schuldverschreibungen. Die vollst盲ndige 脛nderung ist als Exhibit 10.1 eingereicht.
FAQ
What did BioSig (BSGM) amend with Yorkville?
How much total principal could be issued under the amended agreement?
What conversion pricing terms were changed?
Does the Amendment change shareholder approval or closing conditions?
Where can investors read the full Amendment?
