NetworkNewsBreaks – Sigma Labs Inc. (NASDAQ: SGL
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Posted On: 03/26/2021 6:08:05 PM
NetworkNewsBreaks – Sigma Labs Inc. (NASDAQ: SGLB) Enters Purchase Agreements for $9.7M Direct Offering
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.
Please see full disclaimers on the NetworkNewsWire website applicable to all content provided by NNW, wherever published or re-published: http://NNW.fm/Disclaimer
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.
Please see full disclaimers on the NetworkNewsWire website applicable to all content provided by NNW, wherever published or re-published: http://NNW.fm/Disclaimer
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