The Sigma Additive Solutions Inc (NASDAQ: SASI) stock price dropped 24.58% today as investors took profits on their positions following the massive 145.45% rally witnessed on Friday. The company’s stock price rallied higher after Divergent Technologies, Inc. acquired its in-process quality assurance technology suite assets.
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The acquisition of the in-process quality assurance technology suite assets, including all associated software and intellectual property, was received well by investors, as evidenced by the massive rally in Sigma’s stock price.
However, another announcement by Sigma regarding the acquisition of NextTrip Holdings, Inc., a travel technology company based in Sunrise, Florida, received less attention than the Divergent acquisition despite being just as important.
Now that Sigma has sold all its technology, including patents, the company was left as a shell, which necessitated the acquisition of NextTrip by Sigma. Once the acquisition is complete, Sigma Additive Solutions will change its name to NextTrip Holdings and start operating in the travel sector.
Divergent's groundbreaking innovation, DAPS, represents a comprehensive software-hardware production system to revolutionise traditional design and manufacturing approaches. DAPS, or Divergent Advanced Production System, has been meticulously developed to offer an advanced and highly efficient alternative.
The revolutionary system can input a defined requirements set and leverage cutting-edge AI-driven generative design software to computationally engineer structures. It introduces novel materials and harnesses additive manufacturing techniques to transform these digital designs into tangible structures.
One of the standout features of the DAPS system is its remarkable versatility. It smoothly transitions between manufacturing different structures, ranging from automotive chassis to aircraft fuselages, all with minimal downtime between builds.
On the other hand, Sigma is set to acquire 100% of the capital stock of NextTrip. In exchange for this acquisition, Sigma will issue shares of its common stock to NextTrip shareholders, constituting an initial 19.99% of its outstanding common stock.
If all business milestones are successfully met, NextTrip will receive 6 million shares of Sigma's common stock. Upon completing the transaction, William Kerby, the current CEO of NextTrip, will assume the role of CEO of the publicly traded company.
As part of these transactions, Sigma is expected to change its name to NextTrip, Inc., and it will be listed on Nasdaq under a new trading symbol reflecting the NextTrip name. The transaction is expected to close in Q4 2023.
Sigma Additive (SASI) stock price.
The Sigma Additive Solutions (SASI) stock price was trading down 24.58% at $4.48 from Friday’s closing price of $5.94.
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