Deal sells 43.75 million common shares at $0.08 per share to Rockville
By Devika Patel
Knoxville, Tenn., Jan. 14 - Sigma Labs, Inc. completed a $3.5 million private placement of stock with Rockville Asset Management Ltd. on Jan. 10, according to an 8-K filed Tuesday with the Securities and Exchange Commission. The deal priced on Jan. 8.
The company sold 43.75 million common shares at $0.08 apiece. The price per share is a 46.67% discount to the Jan. 7 closing share price, $0.15.
Rockville also received warrants for 14,259,259 shares; the nine-month warrants are each exercisable $0.15, which is identical to the Jan. 7 closing share price.
Proceeds will be used for development efforts towards the commercialization of the company's "In Process Quality Assurance" technology, to expand its international marketing efforts and for working capital and other general corporate purposes.
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: | $3.5 million
|
| Shares: | 43.75 million
|
| Price: | $0.08
|
| Warrants: | For 14,259,259 shares
|
| Warrant expiration: | Nine months
|
| Warrant strike price: | $0.15
|
| Investor: | Rockville Asset Management Ltd.
|
| Pricing date: | Jan. 8
|
| Settlement date: | Jan. 10
|
| Stock symbol: | OTCBB: SGLB
|
| Stock price: | $0.15 at close Jan. 7
|
| Market capitalization: | $73.46 million
|
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