Sigma Labs closed its previously announced underwritten public offering of 1,488,507 shares of common stock at a public offering price of $3.00 per share. The company’s stock (SGLB) is trading in a range of $3.50 to $3.70 a share following the closing.
The shares issued in this offering bring the company’s number of shares out to 7.5 million, with a market capitalization of some $26 million.
The underwriter exercised in full its over-allotment option to purchase an additional 
223,276 shares of common stock at the public offering price, less the underwriting discount. As a result, the total offering size was 1,711,783 shares, and the gross proceeds from the offering were $5,135,349, before deducting underwriting discounts and estimated offering expenses.
H.C. Wainwright & Co. acted as the sole book-running manager for the offering.
The funds raised in this latest offering will allow the company to push into 2021 with fresh capital. The company will use the additional money to fund operations through the tail-end of the COVID-19 crisis. Some of the proceeds will be applied to working capital.
Mark K. Ruport, President and CEO of Sigma Labs, said that he was: “very pleased with the interest in Sigma Labs and the confidence that the market has shown in our ability to execute on the opportunity in front of us in 2021. This offering strengthens our balance sheet and will allow the management team to focus on meeting the milestones and goals that we have established for the coming year.”
