BioSig Technologies (BSGM) said late Monday that it has signed definitive agreements with an institutional investor for up to $1.1 billion in growth financing.
The deal includes a $100 million sale of senior secured convertible debentures and a $1 billion equity line of credit. The debentures carry a 4% annual interest rate rising to 18% in default, and mature in 24 months, the company said.
The equity line of credit allows BioSig to sell up to $1 billion of stock over 36 months, Biosig said.
Shares of BioSig were up 25% in recent Tuesday premarket activity.
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