3D Printing Processes

Sigma Labs reveals underwritten public offering of 1.5M shares

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After a banger week for additive manufacturing stocks, where Ark Investments’s 3D Printing ETF grew by 17%, Sigma Labs is preparing to issue an underwritten public offering of 1.5 million shares of its common stock on the NASDAQ stock exchange. All of the new shares will be sold by the company.

An underwritten public offering is a common means of levying fresh funds, and Sigma’s purposes to use the additional money to fund operations through the tail-end of the COVID-19 crisis. Some of the proceeds will be applied to working capital.

Sigma currently trades around $3.50 a share on the New York Stock Exchange under ticker SGLB. The company has 5.8 million shares out, with a market capitalization of some $20.7 million. The stock closed a year ago today at $10.05 a share; COVID-19 decimated share price.

Sigma Labs develops in-process quality assurance software in metal AM. Its PrintRite3D real-time monitoring solution detects and classifies defects and anomalies in real-time during the manufacturing process, thus enabling significant cost-savings and production efficiencies.

H.C. Wainwright & Co. is acting as the sole book-running manager for the proposed offering. It retains the right to purchase up to 15% of the offered shares.

The shares of common stock are being offered pursuant to an effective registration statement on Form S-3 (File No. 333-225377) that was filed with the U.S. Securities and Exchange Commission (“SEC”) on June 1, 2018, and declared effective on June 14, 2018. The shares of common stock may be offered only by means of a prospectus. A preliminary prospectus supplement and the accompanying prospectus relating to the offering will be filed with the SEC.

 

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Adam Strömbergsson

Adam is a legal researcher and writer with a background in law and literature. Born in Montreal, Canada, he has spent the last decade in Ottawa, Canada, where he has worked in legislative affairs, law, and academia. Adam specializes in his pursuits, most recently in additive manufacturing. He is particularly interested in the coming international and national regulation of additive manufacturing. His past projects include a history of his alma mater, the University of Ottawa. He has also specialized in equity law and its relationship to judicial review. Adam’s current interest in additive manufacturing pairs with his knowledge of historical developments in higher education, copyright and intellectual property protections.

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