Sigma Additive Solutions Announces Signing Of Definitive Agreement For NextTrip Acquisition; Sigma Will Acquire 100% Of Capital Stock In Exchange Of Sigma Stock Constituting 19.99% Of Its Outstanding Common Stock; Expected Completion In Q4 2023
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Sigma Additive Solutions has signed a definitive agreement to acquire NextTrip. Sigma will acquire 100% of NextTrip's capital stock in exchange for 19.99% of Sigma's outstanding common stock. The deal, expected to complete in Q4 2023, includes additional contingent shares of Sigma common stock upon the achievement of post-closing milestone earnouts tied to NextTrip's business performance. Post-acquisition, NextTrip's CEO William Kerby will become CEO of the publicly traded company and NextTrip will have the right to appoint one member to the board of directors. Sigma is expected to change its name to NextTrip, Inc. and to be listed on Nasdaq under a new trading symbol.
October 13, 2023 | 12:35 pm
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Sigma Additive Solutions is acquiring NextTrip in a stock-for-stock deal. The deal is expected to complete in Q4 2023 and will result in Sigma changing its name to NextTrip, Inc. and listing on Nasdaq under a new symbol.
The acquisition of NextTrip by Sigma Additive Solutions is a significant event that could potentially impact the company's stock price. The deal, which involves Sigma giving up 19.99% of its outstanding common stock, could lead to a dilution of existing shares. However, the acquisition could also provide Sigma with new growth opportunities, which could positively impact the stock price. The change of name and listing on Nasdaq under a new symbol could also attract new investors.
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