- BioSig Technologies Inc (BSGM, Financial) to acquire Streamex Exchange Corp, shifting focus from medical technology to real-world asset tokenization.
- Streamex shareholders to receive 75% of BioSig's fully diluted common stock, contingent on shareholder approval.
- Transaction positions BioSig to enter the $142.85 trillion global commodity market through blockchain technology.
BioSig Technologies, Inc. (BSGM) has entered into a definitive share exchange agreement with Streamex Exchange Corp, signaling a major shift from its medical technology roots to the emerging field of real-world asset tokenization. Streamex, which focuses on tokenizing real-world assets like commodities, will become a wholly owned subsidiary of BioSig under the terms of the agreement.
Streamex shareholders are set to receive 75% of BioSig's fully diluted common stock upon approval of BioSig's shareholders. Initially, they will gain 19.9% of the outstanding shares as per Nasdaq listing rules. Key leadership changes include Henry McPhie, co-founder of Streamex, becoming the CEO, and Morgan Lekstrom assuming the role of Chairman of the combined company.
This strategic move by BioSig aims to harness the potential of the $142.85 trillion global commodity market by leveraging blockchain technology to bring commodities on-chain. The transaction also introduces strategic advisors like Frank Giustra, suggesting a focus on the commoditization of precious metals and strengthening BioSig’s position in the financial technology sector.
