Sigma Labs Prices $2.3 Million Underwritten Public Offering of Common Stock
31 July 2019 - 10:45PM
Sigma Labs, Inc. (NASDAQ: SGLB) (“Sigma Labs”), a provider of
quality assurance software, today announced the pricing of an
underwritten public offering with gross proceeds to the Company
expected to be approximately $2.3 million before deducting
underwriting discounts and commissions and other estimated offering
expenses. The proposed offering equates to 2,875,000 shares of the
Company’s common stock at a price of $0.80 per share. The Company
intends to use the net proceeds from this offering for operations,
including for the development and marketing of its products and
services, and payment of general and administrative expenses and
other working capital and general corporate purposes, which may
include the repayment of debt and other capital expenditures.
The Company has also granted the underwriters a
45-day option to purchase up to 431,250 additional shares of common
stock to cover over-allotments, if any, at the public offering
price, less the underwriting discounts and commissions. The
offering is expected to close on or about August 2, 2019, subject
to customary closing conditions.
Aegis Capital Corp. is acting as the sole
book-runner for the offering. Dawson James Securities, Inc.
provided financial advisory services.
This offering is being made pursuant to an
effective shelf registration statement on Form S-3 (No. 333-225377)
previously filed with the U.S. Securities and Exchange Commission
(the “SEC”) and declared effective by the SEC on June 14, 2018. A
final prospectus supplement and accompanying prospectus describing
the terms of the proposed offering will be filed with the SEC and
available on the SEC’s website located at http://www.sec.gov.
Electronic copies of the final prospectus
supplement and the accompanying prospectus, when available, may be
obtained by contacting Aegis Capital Corp., Attention: Prospectus
Department, 810 7th Avenue, 18th floor, New York, NY 10019, by
email at prospectus@aegiscap.com, or by telephone at (212)
813-1010. Before investing in this offering, interested parties
should read in their entirety the prospectus supplement and the
accompanying prospectus and the other documents that the Company
has filed with the SEC that are incorporated by reference in such
prospectus supplement and the accompanying prospectus, which
provide more information about the Company and such offering.
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
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 us at
www.sigmalabsinc.com.
Forward-Looking Statements This
press release contains “forward-looking statements” within the
meaning of Section 27A of the Securities Act of 1933, as amended,
and Section 21E of the Securities Exchange Act of 1934, as amended
(which Sections were adopted as part of the Private Securities
Litigation Reform Act of 1995). Statements preceded by, followed by
or that otherwise include the words “believe,” “anticipate,”
“estimate,” “expect,” “intend,” “plan,” “project,” “prospects,”
“outlook,” and similar words or expressions, or future or
conditional verbs such as “will,” “should,” “would,” “may,” and
“could” are generally forward-looking in nature and not historical
facts. These forward-looking statements involve known and unknown
risks, uncertainties and other factors which may cause the
Company's actual results, performance or achievements to be
materially different from any anticipated results, performance or
achievements. The Company disclaims any intention to, and
undertakes no obligation to, revise any forward-looking statements,
whether as a result of new information, a future event, or
otherwise. For additional risks and uncertainties that could impact
the Company’s forward-looking statements, please see the Company’s
Annual Report on Form 10-K (including but not limited to the
discussion under “Risk Factors” therein) filed with the SEC on
April 1, 2019 and which may be viewed at http://www.sec.gov.
Contacts:Media
Relations: DGI Comm 212-825-3210Investor
Relations: Bret Shapiro Managing Director CORE IR
561-479-8566 brets@coreir.com
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