Sigma Labs (NASDAQ: SGLB), a leading developer of quality assurance software for the commercial 3D metal printing industry, has announced a registered direct offering. The company noted that it has entered into securities purchase agreements with institutional investors. The agreements outline the purchase of 2,190,000 shares of common stock in a registered direct offering priced at-the-market under Nasdaq rules. The agreement also includes a concurrent private placement up to 2,190,000 shares of common stock issued to investors as short-term warrants. Together the common stock and warrants are offered at $4.445, with the warrants having an exercise price of $4.32 per share. The warrants will be exercisable when SGLB receives shareholder approval to increase authorized shares of common stock. The company expects the direct offering to result in $9.7 million, which it plans to use for operations, including the development and marketing of its products and services, as well as working capital and general corporate purposes. The purchase agreement should close approximately March 26, 2021.
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About Sigma Labs Inc.
Sigma Labs is a leading provider of in-process quality assurance (“IPQA(R)”) software to the additive manufacturing industry. Sigma Labs specializes in the development and commercialization of real-time monitoring solutions known as PrintRite3D(R) for 3D metal advanced manufacturing technologies. PrintRite3D detects and classifies defects and anomalies real time during the manufacturing process, enabling significant cost savings and production efficiencies. Sigma Labs believes its software product will be a major catalyst for the acceleration and adoption of 3D metal printing. For more information about the company, visit www.SigmaLabsInc.com.
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