Hudson Valley Capital Management sells shares with five-year warrants
By Devika Patel
Knoxville, Tenn., April 20 - Sigma Labs, Inc. completed a private placement of stock on April 15, according to an 8-K filed Wednesday with the Securities and Exchange Commission. It raised $1.14 million via agent Hudson Valley Capital Management Corp.
The company sold 57,125,000 common shares at $0.02 apiece, an 83.33% discount to the April 14 closing share price of $0.12.
Investors also received five-year warrants for 8,118,750 shares, which are each exercisable at $0.025. The strike price is a 79.17% discount to the April 14 closing share price.
Based in Santa Fe, N.M., Sigma Labs designs and develops innovative sensing, software products, materials technologies and other manufacturing quality assurance products for the federal government and commercial clients.
| Issuer: | Sigma Labs, Inc.
|
| Issue: | Common stock
|
| Amount: | $1,142,500
|
| Shares: | 57,125,000
|
| Price: | $0.02
|
| Warrants: | For 8,118,750 shares
|
| Warrant expiration: | Five years
|
| Warrant strike price: | $0.025
|
| Agent: | Hudson Valley Capital Management Corp.
|
| Settlement date: | April 15
|
| Stock symbol: | OTCBB: SGLB
|
| Stock price: | $0.12 at close April 15
|
| Market capitalization: | $33.81 million
|
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