Sigma Additive Solutions, Inc. (NASDAQ:SASI), a company known for its role in the additive manufacturing industry, announced a significant rebranding and corporate restructuring effort, as detailed in its recent 8K filing. Effective from March 13, 2024, the company will operate under the new name NextTrip, Inc., with its common stock trading on the Nasdaq Capital Market under the ticker symbol NTRP.
This strategic move follows approval from the company's shareholders at a Special Meeting on March 8, 2024. Alongside the name change, the number of authorized shares of common stock will be substantially increased from 1,200,000 shares to 250,000,000 shares. This Increase in Authorized aims to accommodate the company's new 2023 Equity Incentive Plan, which was adopted by the board of directors in November 2023 and approved by stockholders in December of the same year.
The implementation of the 2023 Plan was postponed until the Increase in Authorized could be effected, as the company previously lacked sufficient shares authorized for issuance. The 2023 Plan is set to be implemented on the same day as the name change and ticker symbol update, marking a new chapter for the organization.
The CUSIP number for the company's common stock will remain unchanged despite the rebranding and ticker symbol change.
The full details of the Charter Amendment, including the upcoming changes to the corporate structure and the 2023 Equity Incentive Plan, have been outlined in the company's Definitive Proxy Statement filed with the Securities and Exchange Commission on December 1, 2023.
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