Signalife Completes $102 Million Financing

Signalife, a Greenville, SC, firm specializing in biomedical signal monitoring,yeezy scarpe has completed $102 million in financing — a much anticipated boost following the company’s June receipt of an AMEX deficiency letter stating that stockholder equity had fallen below the requirement for companies with market caps less than $50 million.

The company has received $2 million in immediately funding through the sale of common stock to YA Global Investments, a Yorkville Advisors fund. It also has entered into a Standby Equity Distribution Agreement that permits the sale of $100 million in additional stock over the next three years. The money will be used to advance Signalife’s main product, the Fidelity 100 heart monitor.

Originally developed to monitor brain waves of U.S. Air Force Pilots, Fidelity 100 compresses and reduces noise prior to amplifying an ECG signal,yeezy scarpe improving signal quality. The improved clarity may increase the ability to detect silent ischemia or other difficult-to-detect abnormalities of the heart, allowing earlier detection of cardiovascular disease.

Last month, Signalife appointed Lowell Harmison as its interim president and COO to advance sales and marketing of Fidelity 100, and to ensure capital to comply with AMEX’s continued-listing requirements.

Over the months prior to Harmison’s appointment, Signalife yeezy scarpe was in discussions with a number of large prospective industry partners about adapting Signalife’s technology and products for a variety of applications; in exchange, Signalife would utilize their sales and marketing channels. But due to limited management and resources, Signalife wasn’t able to pursue those opportunities.

Harmison was brought on board to kick back into gear marketing plans for Fidelity 100, including introducing the product to marquee hospitals and leading cardiologists.

Prior to his appointment, Harmison had been a director of the company since 2002. He has a 40-year career in biomedicine, including serving as the principal deputy assistant secretary for U.S. Public Health Service, Department of Health and Human Services under the Reagan Administration. In that capacity, he was a COO in charge of managing a $14 billion budget and more than 40,000 employees.

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