Sigma Labs Inc (NASDAQ:SGLB) shares were down 9.71% to $3.16 on Thursday and flat in after-hours trading. Share prices have been trading in a 52-week range of $1.40 to $9.70. The company has a market cap of $10.66 million at 3.13 million shares outstanding.
Sigma Labs Inc announced that it has made an investment in the principal amount of $500,000 to Morf3D, a strategic partner which is currently one of a handful of companies qualified for additive manufacturing of production flight hardware for key Aerospace and Defense OEMs.
“As we continue to cement our long-term relationship, this convertible note will enable Morf3D to acquire new equipment, increase its production capacity, and, in tandem, use Sigma Labs’ PrintRite3D® QA software as it expands its additive manufacturing offerings to customers,” said Mark Cola, President and CEO of Sigma Labs Inc. “Together with Morf3D, we are excited to take this next step and assess ways to further align our businesses to be able to provide a complete, integrated AM solution for A&D customers and, potentially, build an organization that can oversee the entire AM value chain – from material selection to design and manufacturing, as well as in-process quality assurance. We could then better serve the entire A&D industry, which is rapidly transitioning to 3D metal manufacturing.”
“This transaction by Sigma Labs represents yet another significant step in realizing our mutual industry vision in delivering an unmatched and unique supplier-partner offering to the aerospace, defense and industrial markets. Our objective is to deliver a seamless and fully-integrated digital manufacturing enterprise using the most advanced AM technologies. We’ve seen success with our client-collaboration business model, and now we’ll expand this with Sigma’s industry-leading quality assurance systems. It’s a truly unique competitive advantage,” added Ivan Madera, Morf3D CEO.
Sigma Labs Inc is a technology company that specializes in the development and commercialization of manufacturing and materials technologies. Its principal business activities include the development of its In-Process Quality Assurance (IPQA) suite of technologies and the commercialization of both its IPQA and materials-related suite of technologies, with its focus on three-dimensional printing (3DP) industry.
The company is engaged in a range of activities in which it seeks to commercialize technologies and products in various industry sectors, such as aerospace and defense manufacturing; bio-medical manufacturing; automotive manufacturing, and other markets. It offers PrintRite3D SENSORPAK, which is an auxiliary sensor and hardware kit; PrintRite3D INSPECT, which is a software that verifies quality layer by layer, and PrintRite3D CONTOUR, which is a software that assures the as-built geometry. Its other software modules include PrintRite3D THERMAL and PrintRite3D ANALYTICS.