On December 16, 2016 and December 22, 2016, BioSig Technologies, Inc. (the “Company”) consummated a third, and fourth closing, respectively, under the Unit Purchase Agreement, dated October 28, 2016, by and among the Company and certain accredited investors (the “Purchase Agreement”), to which the Company issued to certain additional accredited investors (the “December Investors”) an aggregate of 1,143,334 units (the “Units”), in exchange for aggregate consideration of approximately $1,715,000. On November 23, 2016, the Company held its second closing under the Purchase Agreement, to which the Company issued to certain additional investors (together with the December Investors, the “Additional Investors”) 100,002 Units in exchange for approximately $150,000. The aggregate gross proceeds received from the three closings was approximately $1,865,000. Each Unit consists of one share (the “Investor Shares”) of the Company’s common stock, par value $0.001 per share (the “Common Stock”), and a warrant to purchase one half of one share of Common Stock, exercisable at a price of $1.50 per share (the “Investor Warrants”), at a per Unit price of $1.50. In addition, in connection with the second, third and fourth closings, each Additional Investor became party to that certain Registration Rights Agreement, dated as of October 28, 2016 (the “Registration Rights Agreement”).

As previously reported in the Company’s Current Report on Form 8-K filed with the Securities and Exchange Commission on November 3, 2016, the Company consummated the first closing under the Purchase Agreement on October 28, 2016, to which the Company issued to the initial investors (the “Initial Investors” and together with the Additional Investors, the “Investors”) an aggregate of 346,567 Units in exchange for aggregate consideration of $519,850, and together with the proceeds from the second, third, and fourth closing, total consideration of approximately $2,384,851. The Common Stock issuances on December 16, 2016, resulted in an increase in the number of shares of Common Stock outstanding by more than 5% since the Company’s Current Report on Form 8-K filed with the Securities and Exchange Commission on November 3, 2016.

The shares of Common Stock and Investor Warrants issued and sold to the Investors were not registered under the Securities Act of 1933, as amended (the “Securities Act”), or the securities laws of any state, and were offered and sold in reliance on the exemption from registration under the Securities Act, provided by Section 4(a)(2) and Regulation D (Rule 506) under the Securities Act. Each Investor represented that it was an accredited investor (as defined by Rule 501 under the Securities Act).

About BioSig Technologies, Inc. (NASDAQ:BSGM)