[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 è depositato come Allegato 10.1.
BioSig Technologies enmendó un acuerdo de compra de pagarés convertibles garantizados con YA II PN, Ltd. (Yorkville). La Enmienda revisa la estructura de la operación para establecer un primer pagaré convertible garantizado por un principal de $25,000,000 y un segundo pagaré convertible garantizado por un principal de $25,000,000, con pagarés convertibles garantizados adicionales disponibles por un importe principal agregado de hasta $50,000,000 solo mediante acuerdo mutuo de las partes.
La Enmienda también modifica ciertas disposiciones de compra, cierre y aprobación de accionistas y actualiza términos relacionados, incluyendo fijar el precio mínimo de conversión en 20% del Precio Oficial de Cierre de Nasdaq inmediatamente anterior a la fecha de celebración del Acuerdo de Compra de Pagarés original. La Enmienda completa se presenta como Anexo 10.1.
BioSig Technologies는 YA II PN, Ltd. (Yorkville)와의 담보부 전환사채 매매계약을 수정했습니다. 이 수정안은 거래 구조를 변경하여 원금 $25,000,000의 첫 번째 담보부 전환사채와 원금 $25,000,000의 두 번째 담보부 전환사채를 제공하고, 추가 담보부 전환사채는 당사자들 간의 상호 합의가 있을 경우에만 총액 최대 $50,000,000까지 이용 가능하도록 합니다.
또한 수정안은 일부 매수, 종결 및 주주 승인 조항을 변경하고 관련 조건을 업데이트하며, 전환 최저가격을 원래 전환사채 매매계약 체결 직전의 나스닥 공식 종가의 20%로 설정합니다. 전체 수정안은 전시물 10.1로 제출되었습니다.
BioSig Technologies a modifié un accord d'achat d'obligations convertibles garanties avec YA II PN, Ltd. (Yorkville). L'amendement revoit la structure de l'opération afin de prévoir une première 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 supplémentaires étant disponibles pour un montant nominal agrégé allant jusqu'à $50,000,000 uniquement d'un commun accord entre les parties.
L'amendement modifie également certaines dispositions relatives à l'achat, à la clôture et à l'approbation des actionnaires et met à jour les termes connexes, notamment en fixant le prix plancher de conversion à 20% du cours officiel de clôture Nasdaq immédiatement précédent la date de signature de l'accord d'achat initial. L'amendement complet est déposé en tant que Exhibit 10.1.
BioSig Technologies hat die Vereinbarung zum Kauf gesicherter wandelbarer Schuldverschreibungen mit YA II PN, Ltd. (Yorkville) geändert. Die Änderung überarbeitet 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; zusätzliche gesicherte wandelbare Schuldverschreibungen stehen nur nach gegenseitiger Vereinbarung der Parteien in einem Gesamtnennbetrag von bis zu $50,000,000 zur Verfügung.
Die Änderung passt außerdem bestimmte Bestimmungen zum Kauf, zum Closing und zur Zustimmung der Aktionäre an und aktualisiert damit zusammenhängende Bedingungen, einschließlich der Festlegung des Mindestumwandlungspreises auf 20% des offiziellen Nasdaq‑Schlusskurses unmittelbar vor dem Datum des Inkrafttretens der ursprünglichen Kaufvereinbarung für Schuldverschreibungen. Die vollständige Änderung 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—two secured convertible debentures of $25,000,000 each and additional debentures up to $50,000,000 only by mutual consent—establish 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 è depositato come Allegato 10.1.
BioSig Technologies enmendó un acuerdo de compra de pagarés convertibles garantizados con YA II PN, Ltd. (Yorkville). La Enmienda revisa la estructura de la operación para establecer un primer pagaré convertible garantizado por un principal de $25,000,000 y un segundo pagaré convertible garantizado por un principal de $25,000,000, con pagarés convertibles garantizados adicionales disponibles por un importe principal agregado de hasta $50,000,000 solo mediante acuerdo mutuo de las partes.
La Enmienda también modifica ciertas disposiciones de compra, cierre y aprobación de accionistas y actualiza términos relacionados, incluyendo fijar el precio mínimo de conversión en 20% del Precio Oficial de Cierre de Nasdaq inmediatamente anterior a la fecha de celebración del Acuerdo de Compra de Pagarés original. La Enmienda completa se presenta como Anexo 10.1.
BioSig Technologies는 YA II PN, Ltd. (Yorkville)와의 담보부 전환사채 매매계약을 수정했습니다. 이 수정안은 거래 구조를 변경하여 원금 $25,000,000의 첫 번째 담보부 전환사채와 원금 $25,000,000의 두 번째 담보부 전환사채를 제공하고, 추가 담보부 전환사채는 당사자들 간의 상호 합의가 있을 경우에만 총액 최대 $50,000,000까지 이용 가능하도록 합니다.
또한 수정안은 일부 매수, 종결 및 주주 승인 조항을 변경하고 관련 조건을 업데이트하며, 전환 최저가격을 원래 전환사채 매매계약 체결 직전의 나스닥 공식 종가의 20%로 설정합니다. 전체 수정안은 전시물 10.1로 제출되었습니다.
BioSig Technologies a modifié un accord d'achat d'obligations convertibles garanties avec YA II PN, Ltd. (Yorkville). L'amendement revoit la structure de l'opération afin de prévoir une première 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 supplémentaires étant disponibles pour un montant nominal agrégé allant jusqu'à $50,000,000 uniquement d'un commun accord entre les parties.
L'amendement modifie également certaines dispositions relatives à l'achat, à la clôture et à l'approbation des actionnaires et met à jour les termes connexes, notamment en fixant le prix plancher de conversion à 20% du cours officiel de clôture Nasdaq immédiatement précédent la date de signature de l'accord d'achat initial. L'amendement complet est déposé en tant que Exhibit 10.1.
BioSig Technologies hat die Vereinbarung zum Kauf gesicherter wandelbarer Schuldverschreibungen mit YA II PN, Ltd. (Yorkville) geändert. Die Änderung überarbeitet 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; zusätzliche gesicherte wandelbare Schuldverschreibungen stehen nur nach gegenseitiger Vereinbarung der Parteien in einem Gesamtnennbetrag von bis zu $50,000,000 zur Verfügung.
Die Änderung passt außerdem bestimmte Bestimmungen zum Kauf, zum Closing und zur Zustimmung der Aktionäre an und aktualisiert damit zusammenhängende Bedingungen, einschließlich der Festlegung des Mindestumwandlungspreises auf 20% des offiziellen Nasdaq‑Schlusskurses unmittelbar vor dem Datum des Inkrafttretens der ursprünglichen Kaufvereinbarung für Schuldverschreibungen. Die vollständige Änderung 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?
