SINTX Technologies Announces Closing of $12.0 Million Public Offering
10 Febbraio 2023 - 7:52PM
SINTX Technologies, Inc. (NASDAQ: SINT) (“SINTX” or the “Company”),
an original equipment manufacturer of advanced ceramics, today
announced the closing of its public offering of 2,150,000 units,
with each unit consisting of one share of its common stock, or one
pre-funded warrant to purchase one share of its common stock, one
Class C Warrant with each warrant to purchase one share of common
stock, and one half of one Class D Warrant with each whole warrant
to purchase one share of common stock. Each unit was sold at a
public offering price of $5.60. The Class C and Class D
Warrants in the units are immediately exercisable at a price
of $5.60 per share. The Class C Warrants expire five
years from the date of issuance and the Class D Warrants expire
three years from the date of issuance. The shares of common stock
(or pre-funded warrants in lieu thereof) and accompanying warrants
were only purchasable together in this offering, but were issued
separately and were immediately separable upon issuance.
Gross proceeds, before deducting placement agent
fees and other offering expenses, were approximately $12.0
million.
Maxim Group LLC acted as sole placement agent in
connection with this offering. Ascendiant Capital Markets LLC acted
as the Company’s financial advisor.
The securities described above were offered
pursuant to a registration statement on Form S-1, as amended (File
No. 333-269475) (the “Registration Statement”), which was declared
effective by the Securities and Exchange Commission (the
"SEC") on February 7, 2023. The offering was made only by
means of a prospectus which is a part of the Registration
Statement. A copy of the final prospectus relating to the offering
has been filed with the SEC and may be obtained from Maxim Group
LLC, 300 Park Avenue, 16th Floor, New York, NY 10022, at (212)
895-3745.
This press release shall not constitute an offer
to sell or a solicitation of an offer to buy any of the securities
described herein, nor shall there be any sale of these securities
in any state or other jurisdiction in which such offer,
solicitation or sale would be unlawful prior to the registration or
qualification under the securities laws of any such state or other
jurisdiction.
About SINTX Technologies,
Inc.
SINTX Technologies is an advanced ceramics
company that develops and commercializes materials, components, and
technologies for medical and technical applications. SINTX is a
global leader in the research, development, and manufacturing of
silicon nitride, and its products have been implanted in humans
since 2008. Over the past two years, SINTX has utilized strategic
acquisitions and alliances to enter into new markets. The Company
has manufacturing facilities in Utah and Maryland.
For more information on SINTX Technologies or
its advanced ceramics material platforms, please visit
www.sintx.com
Forward-Looking Safe Harbor
StatementThis press release contains forward-looking
statements within the meaning of the Private Securities Litigation
Reform Act of 1995 (PSLRA) that are subject to a number of risks
and uncertainties. Risks and uncertainties that may cause such
differences include, among other things: our products may not prove
to be as effective as other products currently being commercialized
or to be commercialized in the future by competitors; risks
inherent in manufacturing and scaling up to commercial quantities
while maintaining quality controls; volatility in the price of
SINTX’s common stock; the uncertainties inherent in new product
development, including the cost and time required to commercialize
such product(s); market acceptance of our products once
commercialized; SINTX’s ability to raise funding and other
competitive developments. Readers are cautioned not to place undue
reliance on the forward-looking statements, which speak only as of
the date on which they are made and reflect management’s current
estimates, projections, expectations, and beliefs. There can be no
assurance that any of the anticipated results will occur on a
timely basis or at all due to certain risks and uncertainties, a
discussion of which can be found in SINTX’s Risk Factors disclosure
in the Registration Statement and SINTX’s Annual Report on Form
10-K, filed with the Securities and Exchange Commission (SEC) on
March 25, 2022, and in SINTX’s other filings with the SEC. SINTX
undertakes no obligation to publicly revise or update the
forward-looking statements to reflect events or circumstances that
arise after the date of this report.
Contact:SINTX
Technologies801.839.3502IR@sintx.com
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