Sigma Labs (NASDAQ:SGLB), a leading developer of quality
assurance software for the commercial 3D printing industry, today announced its
entry into a securities purchase agreement with certain institutional investors
for the purchase of shares of a new series of its preferred stock, warrants to
purchase its common stock and warrants to purchase such preferred stock for
total gross cash proceeds of $1.5 million to Sigma Labs. According to the
update, SGLB could also receive $6 million of gross proceeds if the warrants to
purchase preferred stock are exercised in full for cash, and the Company has
the right to force the exercise of up to $500,000 of such warrants, subject to
certain equity conditions. “The evidence is mounting that the Additive
Manufacturing industry is accelerating towards wider adoption and
commercialization in concert with the market’s validation of our technology,”
Sigma Labs Executive Chairman Mark Ruport said in the news release. “In order
to capitalize on the momentum and generate increasing revenue starting in 2020,
we felt that it was imperative for the Company to strengthen its balance sheet
and enter into agreements that could provide substantial additional capital
going forward. Based on these agreements, we intend to extend our reach and
continue to build meaningful, and mutually beneficial, relationships with
leading 3D printer manufacturers, enterprise end-users, Research &
Development organizations and AM software manufacturers. It’s an exciting time
and I look forward to providing a comprehensive update on our progress in our
year-end conference call in March.”
To view the full press release, visit http://ibn.fm/oVM50
About Sigma Labs
Sigma Labs, Inc. (NASDAQ: SGLB) is a leading provider of
quality assurance software to the commercial 3D printing industry under the
PrintRite3D(R) brand. Founded in 2010, Sigma is a software company that
specializes in the development and commercialization of real-time computer
aided inspection (CAI) solutions known as PrintRite3D(R) for 3D advanced
manufacturing technologies. Sigma Labs’ advanced computer-aided software
product revolutionizes commercial additive manufacturing, enabling
non-destructive quality assurance mid-production, uniquely allowing errors to
be corrected in real-time. For more information, please visit www.SigmaLabsInc.com.
NOTE TO INVESTORS: The latest news and updates
relating to SGLB are available in the company’s newsroom at http://ibn.fm/SGLB
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