SGI to sell stock

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According to Reuters last week SGI has filed with the SEC for permission to periodically sell up to $100M in new common stock

SGI logoThe company said in a registration statement with the U.S. Securities and Exchange Commission that it would use the proceeds from the offering for sales and marketing, research and development, and general corporate purposes.

Under a shelf registration, a company may sell securities in one or more separate offerings with the size, price and terms to be determined at the time of sale.