Sigma Additive Solutions to Acquire NextTrip Holdings; NextTrip to Become Public
September 7, 2023
Sigma Additive Solutions (NASDAQ: SASI) signed a non-binding LOI to acquire 100% of NextTrip Holdings, Inc. in exchange for Sigma common stock (initially representing 19.99% of Sigma) with additional milestone-based earnout shares, giving an initial implied valuation of approximately $48 million if all milestones are achieved. The combination would result in Sigma changing its name to NextTrip, providing NextTrip a path to become a publicly traded company on Nasdaq; the transactions are subject to definitive agreements, approvals and customary closing conditions. Sigma also announced an LOI to sell certain additive-quality-assurance IP/assets to a strategic buyer as part of a broader strategic realignment.
- Buyers
- Sigma Additive Solutions, Inc.
- Targets
- NextTrip Holdings, Inc.
- Industry
- Cloud & SaaS
- Location
- Florida, United States
- Transaction Type
- Buyout
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