A publicly-traded company based in Santa Fe announced last week that it's expanding collaboration with a partner based in Belgium weeks after announcing a partnership with a different European firm.
Sigma Additive Solutions — previously named Sigma Labs Inc. — provides quality assurance software for companies in the additive manufacturing industry. The company (NASDAQ: SASI), which changed its name last May, is headquartered at 3900 Paseo del Sol in Santa Fe.
It announced on March 20 that it's expanding a partnership with Materialise, a 3D printing software and service solutions company based in Belgium. That partnership revolves around one of Sigma's software products called PrintRite3D, according to a March 20 news release from the Santa Fe company.
News of that expanded partnership comes a few weeks after Sigma announced that it formed a new partnership with another 3D printing company, DyeMansion. Sigma will provide its quality assurance services to monitor DyeMansion's post-processing systems, according to a March 6 release from Sigma.
DyeMansion is based in Germany and has a U.S. office in Austin, Texas.
Sigma declined to provide comment for this story citing its upcoming quarterly and year-end earnings call. That call is scheduled for 2:30 p.m. on Thursday.
News of the partnerships comes several months after Sigma received notice from The Nasdaq Stock Market that it didn't comply with the exchange's minimum bid price requirement. Sigma's common stock price had been below $1 per share for 30 consecutive days, according to a Securities and Exchange Commission filing from Oct. 14, 2022.
The October filing notes that Sigma has until April 12 of this year to regain compliance. According to the October filing, its common stock price must be above $1 per share for at least 10 consecutive business days to regain compliance.
Shares of Sigma's common stock closed at a six-month high of $0.94 on October 6 and haven't risen above $0.70 since the turn of the year, according to market activity reported on Nasdaq's website.
The company started working with Minneapolis-based consulting firm Lake Street Capital Markets as a financial advisor this month, according to a March 1 Securities and Exchange Commission filing. According to an accompanying press release, Sigma will work with the Minneapolis Firm to help consider "a range of strategic alternatives designed to enhance shareholder value, including a possible strategic investment, acquisition, merger, business combination or similar transaction."
That release notes that Sigma "has not set a timetable" for when such a deal could happen.
