SINTX Technologies Announces Pricing of $8.2 Million Registered Direct Offering Priced At-The-Market
August 05 2020 - 8:00AM
SINTX Technologies, Inc. (NASDAQ: SINT) (“SINTX” or the “Company”),
an original equipment manufacturer (OEM) ceramics company focused
on silicon nitride and its applications, today announced that it
has entered into a share purchase agreement with several
institutional investors for the issuance and sale of 3,415,000
shares of its common stock at a price of $2.40 per share, for
aggregate gross proceeds of approximately $8.2 million, in a
registered direct offering priced at-the-market under Nasdaq
rules.
Maxim Group LLC is acting as the sole placement
agent for the offering.
The offering is expected to close on or about
August 7, 2020, subject to the satisfaction of customary closing
conditions.
The shares of common stock are being offered
pursuant to a shelf registration statement on Form S-3 (File No.
333-230492) previously filed and declared effective by the
Securities and Exchange Commission (SEC) on April 5, 2019. The
offering of the shares of common stock will be made only by means
of a prospectus supplement that forms a part of the registration
statement.
This press release does not constitute an offer
to sell or the solicitation of an offer to buy, nor will there be
any sales of these shares of common stock in any jurisdiction in
which such offer, solicitation or sale would be unlawful prior to
registration or qualification under the securities laws of such
jurisdiction. A prospectus supplement relating to the shares of
common stock will be filed by SINTX with the SEC. When available,
copies of the prospectus supplement relating to the registered
direct offering, together with the accompanying prospectus, can be
obtained at the SEC's website at www.sec.gov or from Maxim
Group LLC, 405 Lexington Avenue, New York, NY 10174, Attention:
Syndicate Department, or via email at syndicate@maximgrp.com or
telephone at (212) 895-3745.
About SINTX Technologies,
Inc.
SINTX Technologies is an OEM ceramics company
that develops and commercializes silicon nitride for medical and
non-medical applications. The core strength of SINTX Technologies
is the manufacturing, research, and development of silicon nitride
ceramics for external partners. The Company manufactures silicon
nitride material and components in its FDA registered and ISO 13485
certified facility.
Forward-Looking Statements
This 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, the risk that the proposed
offering of common stock may not close; uncertainties inherent in
research and development, including the cost and time required
advance our products to regulatory submission; market acceptance of
our products once cleared and commercialized; our ability to raise
additional 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 its Annual Report on Form
10-K, filed with the Securities and Exchange Commission (SEC) on
March 26, 2020, and in SINTX’s other filings with the SEC. SINTX
disclaims any obligation to update any forward-looking statements.
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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