Signalife receives $102m lifeline:
This article was originally published in Clinica
Executive Summary
Biomedical signal monitoring specialist Signalife has received a welcome financial boost in the shape of a $102m funding from YA Global Investments. The Greenville, South Carolina-based company was issued with an AMEX deficiency letter in June, stating that the company's shareholder equity price had fallen below the minimum threshold for companies with market caps of less than $50m. Signalife has received $2m upfront from the sale of common stock and warrants to YA, and has entered a standby equity distribution agreement with the investment firm that will see the sale of $100m in additional stock over the next three years. As well as repairing the company's stock market position, the funding will also help sales and marketing of its lead product, the Fidelity 100 heart monitor, designed to detect early signs of cardiovascular disease.
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