Sigma Additive Solutions (NASDAQ: SASI), a provider of quality assurance software to the commercial 3D printing industry, announced that it has entered into two agreements. First, the company signed a definitive agreement for the acquisition of NextTrip Holdings Inc., a Florida-based travel technology company. According to the announcement, Sigma will acquire 100% of the capital stock of NextTrip in exchange for 19.99% shares of Sigma common stock plus additional shares contingent on reaching specific post-closing milestone earnouts. If all milestones are met, NextTrip will receive a total of 6 million shares of Sigma stock. The announcement also noted that, once the acquisition is completed, NextTrip CEO William Kerby will become CEO of the publicly traded company and NextTrip will have the right to appoint one member to the board of directors. The transaction was unanimously approved by the board of directors and will provide the opportunity for NextTrip to become a publicly traded company on NASDAQ.
In addition, the company announced a definitive agreement to sell its in-process quality assurance assets to Divergent Technologies Inc. The parent company of the performance automotive company CZV Inc., Divergent is the inventor of the Divergent Adaptive Production System (“DAPSTM”). Regarding the asset purchase agreement (“APA”) with Divergent, Sigma will sell certain assets consisting primarily of patents, software code and other intellectual property. “Sigma has found a fitting home for our in-process quality assurance technology, and we are extremely excited to see Divergent build on our foundational work in connection with its DAPS platform,” said Sigma Additive Solutions president and CEO Jacob Brunsberg in the press release. “This is a significant step forward for digital manufacturing quality.”
To view the full press release, visit https://ibn.fm/aaS2a
About Sigma Additive Solutions
Sigma Additive Solutions is a provider of in-process quality assurance (“IPQA”) solutions to the additive manufacturing industry. Sigma specializes in the development and commercialization of real-time monitoring and analytics known as PrintRite3D(R) for 3D metal and polymer advanced manufacturing technologies. PrintRite3D detects and classifies defects and anomalies real-time during the manufacturing process, enabling significant cost savings and production efficiencies by reducing waste, increasing yield and shortening cycle times. Sigma believes its software solutions may be a major catalyst for the acceleration and adoption of industrial 3D printing. For more information about the company, please visit www.SigmaAdditive.com.
NOTE TO INVESTORS: The latest news and updates relating to SASI are available in the company’s newsroom at http://ibn.fm/SASI
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