Monday, January 27, 2020

QualityStocksNewsBreaks – Sigma Labs, Inc. (NASDAQ:SGLB) Enters Agreement for Private Placement of Convertible Preferred Stock and Warrants


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

About QualityStocksNewsBreaks

QualityStocksNewsBreaks provide a rapid summary of corporate news that catch the attention of QualityStocks. QualityStocksBreaks are designed to keep investors up to date on important and breaking news in the small-cap and micro-cap markets. Spanning all industries, including energy, entertainment, telecommunications, healthcare, retail and more, these news breaks deliver opportunities the investment community may have missed. Whether it is earnings results, mergers and acquisitions, or any other market-moving news, our news breaks keep you in the know. QualityStocks is committed to connecting subscribers with companies that have huge potential to succeed in the short and long-term future. It is part of our mission statement to help the investment community discover emerging companies that offer excellent growth potential.

QualityStocks (QS)
Scottsdale, Arizona
www.QualityStocks.com
480.374.1336 Office
Editor@QualityStocks.com

Please see full terms of use and disclaimers on the QualityStocks website applicable to all content provided by QS, wherever published or re-republished: http://www.qualitystocks.net/disclaimer.php


No comments: