Sigma Labs, Inc. (SGLB) Announces 2.19M Share Registered Direct Offering at Priced At-The-Market

March 26, 2021 5:59 AM EDT

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Sigma Labs, Inc. (NASDAQ: SGLB) today announced that it has entered into securities purchase agreements with institutional investors to purchase 2,190,000 of its shares of common stock in a registered direct offering priced at-the-market under Nasdaq rules. Additionally, Sigma Labs has also agreed to issue to the investors short-term warrants to purchase up to an aggregate of 2,190,000 shares of common stock in a concurrent private placement. The combined purchase price for one common stock and a warrant to purchase one share of common stock is $4.445. The warrants have an exercise price of $4.32 per share, are exercisable upon the Company's receipt of shareholder approval to increase its number of authorized shares of common stock from 12 million shares to 24 million shares for a period of two years.

H.C. Wainwright & Co. is acting as the exclusive placement agent for the offering.

The gross proceeds from the registered direct offering and concurrent private placement are expected to be approximately $9.7 million before deducting placement agent fees and other estimated offering expenses. Sigma Labs intends to use the net proceeds from this offering for the Company's operations, including the development and marketing of its products and services, and working capital and general corporate purposes. The registered direct offering and concurrent private placement is expected to close on or about March 26, 2021, subject to the satisfaction of customary closing conditions.

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H.C. Wainwright