BioSig Technologies, Inc. (NASDAQ: BSGM), a medical technology company, has entered into a Letter of Intent to merge with Streamex Exchange Corporation in an all-stock transaction, the company announced.
“This merger represents a transformative opportunity for both our company and our shareholders,” BioSig CEO Anthony Amato said in a statement. “By joining forces with Streamex, we are unlocking significant growth potential while continuing to advance our existing business.”
Under the proposed terms, current stockholders of Streamex will hold approximately 19.9% of BioSig’s outstanding common stock post-merger, as well as a significant amount of convertible preferred stock. After conversion, Streamex stakeholders will control about 75% of the company’s common stock.
Following the merger, leadership changes will include Henry McPhie, co-founder and CEO of Streamex, assuming the role of BioSig’s chief executive officer. Morgan Lekstrom, Streamex’s co-founder and chairman, will become BioSig’s board chairman. Amato will remain on the board.
Strategic advisors joining BioSig post-merger include Frank Giustra, founder of LionsGate Films and Wheaton Precious Metals; Mathew August, chairman of Atlas Capital Partners; and Mitchell Williams, a former senior managing director at Wafra Inc.
The merger aims to enhance BioSig’s market reach and growth prospects, according to company officials.