Sigma Labs closes with US$1.2 million in placement offering

By IVCPOST Staff Reporter

Jul 24 2013, 19:49 PM EDT

Sigma Labs, Inc. announced that it gained US$1.2 million in a private placement offering of shares of the company's common stock last July 18, 2013.

The proceeds from the offering will fund further development efforts by the company aimed towards commercialization of its IPQA technology, according to Sigma Labs president and chief executive offer, Mark Cola. With the money earned from the shares, IPQA or "In Process Quality Assurance" technology will be further developed by the company for additive manufacturing.

The additional funds will also help new initiatives such as formation of conceptual design for Metal3DX, development of a high-productivity 3D metal printer as well as the expansion of its international marketing endeavors, added the Sigma Labs president and CEO.

Sigma Labs is currently employed by several private industry customers such as GE, Honeywell and Boeing for consultation and technology conception and development.

The company has two fully-owned subsidiaries, Sumner & Lawrence Limited and B6 Sigma.