FrameWaves heralds completion of $1 million shares sale, acquisition

By Devika Patel

Knoxville, Tenn., Sept. 15 - FrameWaves Inc. said it settled its acquisition of B6 Sigma, Inc. in a share exchange transaction that resulted in B6 Sigma becoming a wholly owned subsidiary of the company. The new subsidiary also completed a $1 million private placement of stock contemporaneous with the share exchange.

Each share of B6 Sigma common stock was exchanged for 6.67 shares of FrameWaves common stock.

The placement included the conversion of $300,000 of convertible notes previously issued by B6 Sigma.

At the closing, B6 Sigma also acquired and canceled 738,000 shares of FrameWaves common stock from three shareholders. The chief executive officer of FrameWaves resigned, and officers and directors of B6 Sigma were elected as officers and directors of FrameWaves.

FrameWaves shareholders have approved a 150-to-1 forward split and a name change to Sigma Labs, Inc., which are to take place upon final Finra approval.

The combined company will commercialize and develop advanced sensing, software, materials technologies and other unique manufacturing processes for the defense, aerospace and general industries. It is based in Salt Lake City.

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