Sigma Additive Solutions Announces LOIs To Acquire Travel Technology Innovator NextTrip For ~$48M If All Milestones Are Earned, Or $0.40/Share, And Sell Assets Of Quality Assurance Software To Strategic Buyer
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Sigma Additive Solutions (NASDAQ:SASI) has announced a non-binding LOI to acquire travel technology company NextTrip for approximately $48M, or $0.40/share, if all milestones are met. The deal will be paid in Sigma common stock, constituting 19.99% of its outstanding common stock plus additional shares upon achievement of post-closing milestone earnouts. Sigma also plans to sell its quality assurance software assets to a strategic buyer. The transactions are expected to be completed in Q4 2023, subject to negotiation, regulatory and shareholder approvals.
September 07, 2023 | 12:34 pm
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Sigma's acquisition of NextTrip and sale of its quality assurance software assets could potentially increase shareholder value. The deal is expected to be completed in Q4 2023.
The acquisition of NextTrip could potentially increase Sigma's shareholder value by diversifying its business and tapping into the travel technology market. The sale of its software assets could also bring in additional capital. However, the deal is still subject to negotiation and approvals, and its completion is expected in Q4 2023.
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