Sigma Labs Announces Reverse Stock Split, Uplisting to the NASDAQ Capital Market and Pricing of Public Offering of Common Sto...
February 15 2017 - 8:30AM
Sigma Labs, Inc. (OTCQB:SGLB) (“Sigma Labs” or the “Company”), a
provider of quality assurance software under the PrintRite3D®
brand, today announced the pricing of a firm commitment
underwritten public offering (the “Offering”) of 1,410,000 units
(“Units”) at an offering price of $4.13 per Unit, with each Unit
consisting of one share of the Company’s common stock and one
warrant, with each warrant giving the investor the right to acquire
one share of common stock at an exercise price of $4.00 per share.
The shares of common stock and associated warrants are immediately
separable and will be issued separately.
Gross proceeds to the Company from the Offering
will be approximately $5.8 million before deducting underwriting
discounts and commissions and other estimated Offering expenses
payable by the Company. The Company has granted the underwriter a
45-day option to purchase (i) up to 211,500 additional shares of
common stock at the public offering price per Unit less the price
per warrant included in the Unit and/or (ii) additional warrants to
purchase up to 211,500 additional shares of common stock at a
purchase price of $0.01 per warrant to cover over-allotments, if
any. The Offering is expected to close on February 21, 2017,
subject to customary closing conditions.
The common stock and the warrants will begin
trading on the NASDAQ Capital Market under the symbols "SGLB" and
"SGLBW," respectively, effective as of market open today. All
Unit, share and per share and Unit amounts described above reflect
a 1-for-2 reverse stock split that became effective as of
today.
Dawson James Securities, Inc. acted as the sole
underwriter for the offering. Copies of the complete final
prospectus related to the offering may be obtained from Dawson
James Securities, Inc., Attention: Prospectus Department, 1 North
Federal Highway, 5th Floor, Boca Raton, FL 33432, or from
mmaclaren@dawsonjames.com, or by calling toll free at
866.928.0928.
This press release shall not constitute an offer
to sell or the solicitation of an offer to buy, nor shall there be
any sale of these securities in any state or jurisdiction in which
such offer, solicitation, or sale would be unlawful prior to
registration or qualification under the securities laws of any such
state or jurisdiction.
About Sigma Labs, Inc. Sigma
Labs, Inc. is a provider of quality assurance software under the
PrintRite3D® brand and a developer of advanced, in-process,
non-destructive quality assurance software for commercial firms
worldwide seeking productive solutions for advanced manufacturing.
For more information please visit www.sigmalabsinc.com.
Forward-Looking StatementsThis
press release contains forward-looking statements within the
meaning of the Private Securities Litigation Reform Act of
1995. Forward-looking statements often contain words such as
"expects," "anticipates," "intends," "believes" or "will." These
forward-looking statements are subject to a number of risks,
uncertainties and assumptions that could adversely affect us,
including the risks set forth in Sigma's most recent annual report
on Form 10-K. The forward-looking statements in this press release
are made only as of the date of this press release. Sigma
undertakes no obligation to update any of these forward-looking
statements, whether as a result of new information, future events
or otherwise.
Investor Relations Contact:
Chris Witty
cwitty@darrowir.com
646-438-9385
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