NextTrip, Inc. (NTRP): M&A transaction — Sigma Additive Solutions closes $1.6M IP sale to Divergent, shifts focus to NextTrip travel

NextTrip, Inc.

Sold patents and software to Divergent Technologies for $1.6M; net proceeds $1.53M after legal fees.
Acquisition of NextTrip Holdings closed Dec 29, 2023; NextTrip is now wholly owned subsidiary.
Proceeds used to eliminate legacy debt; company now has only zero-interest loans from CEO/Chairman.
Company is now focused on NextTrip travel platform; plans to relaunch booking engine within 30 days.
Expects to market to 6+ million customer database; cites favorable travel industry outlook for 2024.

Key facts

Extracted from this filing and checked against the source text.

M&A Transactions SEC 8-K Item 2.01/5.01 confidence 0.9

NextTrip, Inc. completed a disposition involving Divergent Technologies, Inc. for $1,626,242 purchase price, resulting in net proceeds of $1,533,563 after reimbursement of certain legal fees (closed 2024-01-12).

Action: disposition
Counterparty: Divergent Technologies, Inc.
Consideration: $1,626,242 purchase price, resulting in net proceeds of $1,533,563 after reimbursement of certain legal fees
Closing: 2024-01-12

Exact text from the filing

On January 12, 2024, Sigma Additive Solutions, Inc. (“we,” “us,” “our,” “Sigma” or the “company”) completed the sale of assets consisting primarily of patents, software code and other intellectual property to Divergent Technologies, Inc., or Divergent, for a purchase price of $1,626,242, resulting in net proceeds to the Company of $1,533,563, after reimbursement by the Company of certain of Divergent’s legal fees.

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5 m&a transactions filed in the last 30 days. Browse all m&a transactions →

NextTrip, Inc. filing history →

Source: SEC EDGAR

accession 0001493152-24-002350

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