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Sigma Additive Solutions Announces Lois To Acquire Travel Technology Innovator Nexttrip And Sell Assets Of Quality Assurance Software To Strategic Buyer

PRIVATESep 08, 2023

Acquiring Company

Sigma Additive Solutions

Acquired Company

NextTrip

Santa FeSunriseManufacturingSoftwareInformation TechnologyLeisureTravelTourismTravel Agency

Description

Sigma Additive Solutions, Inc. (NASDAQ:SASI) ("Sigma", "we," "our," or the "Company"), a leading provider of quality assurance software to the commercial 3D printing industry, and NextTrip Holdings, Inc., a travel technology company based in Sunrise, Florida (“NextTrip”), today announced the signing of a non-binding letter of intent (the “LOI”) for Sigma’s acquisition of 100% of the capital stock of NextTrip in exchange for shares of Sigma common stock constituting 19.99% of its outstanding common stock plus additional shares of Sigma common stock upon the achievement of post-closing milestone earnouts tied to the business performance of NextTrip. The parties have agreed to value Sigma shares for this purpose at $0.40 per share, giving the total transaction a starting valuation of approximately $48 million if all milestones are earned. The transaction, which will be subject to the negotiation and execution of a definitive agreement, will provide the opportunity for NextTrip to become a publicly traded company on Nasdaq. Separately, Sigma announced the signing of a non-binding letter of intent (LOI) to sell intellectual property assets related to its additive quality assurance product to a strategic buyer. The combination of the acquisition and sale of assets is targeted to maximize shareholder value.

Quick answer

Sigma Additive Solutions is acquiring NextTrip, announced September 8, 2023. Sigma Additive Solutions is based in Santa Fe, New Mexico, United States.

How much did Sigma Additive Solutions pay for NextTrip?
The deal value was not disclosed.
What does Sigma Additive Solutions do?
Sigma Additive Solutions, Inc. is a leading provider of in-process quality assurance (IPQA™) solutions to the additive manufacturing industry.
Where are Sigma Additive Solutions and NextTrip based?
Sigma Additive Solutions is based in Santa Fe, New Mexico, United States. NextTrip is based in Sunrise, Florida, United States.
Who are the decision-makers at Sigma Additive Solutions?
Fundz holds 1 contact at Sigma Additive Solutions. Names and contact details are shown to Fundz members.

Source: Fundz verified event record.

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Company Information

Company

Sigma Additive Solutions

Location

Santa Fe, New Mexico, United States

About

Sigma Additive Solutions, Inc. is a leading 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® 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.

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Frequently asked

Who acquired NextTrip?

NextTrip was acquired by Sigma Additive Solutions, based in Santa Fe. The deal was reported on September 8, 2023. Sigma Additive Solutions, Inc. is a leading provider of in-process quality assurance (IPQA™) solutions to the additive manufacturing industry. Sigma Additive Solutions is privately held and operates in Manufacturing.

When did Sigma Additive Solutions acquire NextTrip?

Sigma Additive Solutions's acquisition of NextTrip was reported on September 8, 2023. Sigma Additive Solutions, Inc. Fundz records the date the transaction was first publicly reported, sourced from filings and company announcements.

What does NextTrip do?

NextTrip is a technology-driven platform delivering innovative solutions for business and leisure travel. It is publicly traded (NTRP), operating in Information Technology, and is based in Sunrise.

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