A Diagnostics & Imaging Week
Signalife (Los Angeles) reported that it has received American Stock Exchange Approval for up to $102 million in financing with Yorkville Advisors through its YA Global Investments LP fund.
As part of the financing, Signalife has received immediate funding of $2 million through the sale of its common stock to YA Global Investments, and has also entered into a standby equity distribution agreement (SEDA) allowing Signalife, at its sole discretion upon effectiveness of a registration statement relating to the shares underlying the SEDA, to sell up to $100 million in additional common stock to YA Global Investments over the next three years.
The company said it will now proceed forward with its newly constituted board and immediate sales initiative. The company said it would provide a market update via a conference call later this month or immediately after Labor Day.
Signalife is a life sciences company focused on the monitoring and detection of disease through continuous biomedical signal monitoring. Signalife uses its signal technology to design and develop medical devices that simplify and reduce the costs of diagnostic testing and patient monitoring in an ambulatory setting.
Signalife is publicly traded on the American Stock Exchange under the symbol SGN.