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SINTX Technologies Announces Closing of $4.0 Million Public Offering

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SINTX Technologies, Inc. (SINT) has closed a public offering of 16,000,000 units, each consisting of one share of common stock and various warrants, at a public offering price of $0.25 per unit. The gross proceeds are approximately $4.0 million. The offering was made pursuant to a registration statement on Form S-1, declared effective by the SEC on January 31, 2024. Maxim Group LLC acted as sole placement agent, and Ascendiant Capital Markets LLC acted as the Company’s financial advisor.
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The recent public offering by SINTX Technologies, Inc. is a strategic move aimed at raising capital, which can be indicative of the company's plans for expansion, debt reduction, or financing ongoing operations. The offering's structure, involving common stock and two classes of warrants, is designed to attract a broad range of investors by providing multiple investment options and potential for future equity conversion. The gross proceeds of approximately $4 million, before accounting for fees and expenses, suggest a moderate capital infusion relative to the market cap of such companies.

Investors should consider the dilutive effect of this offering on existing shareholders, as the issuance of additional shares tends to reduce the value of existing shares. However, the immediate exercisability of the Class E and Class F Warrants at $0.25 per share could potentially serve as a short-term incentive for investors. The differing expiration dates of the warrants provide varied investment horizons, with Class E Warrants offering a longer-term investment until expiry compared to the shorter-term Class F Warrants. The involvement of Maxim Group LLC as the sole placement agent and Ascendiant Capital Markets LLC as financial advisor adds credibility to the transaction and may influence investor confidence.

From a market perspective, the success of SINTX's offering provides insights into investor sentiment towards the advanced ceramics sector and the company's growth prospects. Advanced ceramics are critical in various applications, including medical devices, electronics and industrial components, suggesting a potentially expanding market for SINTX's products. The offering price at $0.25 per unit is a key metric that reflects current market valuation and investor appetite for risk in this segment.

It's important to analyze the market's reception to the offering and subsequent trading volumes and stock price movements. These will serve as indicators of the market's perception of the company's value proposition and future potential. The timing of the offering, following the effectiveness of the Registration Statement by the SEC, may also be strategic, aligning with favorable market conditions or the company's internal milestones.

Legally, the offering's execution following the SEC's approval of the Registration Statement ensures compliance with federal securities laws. The final prospectus filing is a critical document that provides transparency and detailed information to investors, mitigating legal risks associated with securities offerings. The statement that the securities were offered only by means of a prospectus is a standard disclaimer aimed at preventing any misinterpretation of the press release as an offer to sell or a solicitation of an offer to buy.

It is important for investors to understand that such offerings are bound by specific regulations to protect against unlawful sales and ensure the dissemination of essential information. The legal framework surrounding public offerings, such as the requirement for registration and the role of the SEC, is designed to maintain market integrity and investor confidence.

SALT LAKE CITY, UT, Feb. 02, 2024 (GLOBE NEWSWIRE) -- SINTX Technologies, Inc. (NASDAQ: SINT) (“SINTX” or the “Company”), an original equipment manufacturer of advanced ceramics, today announced the closing of its previously announced public offering of 16,000,000 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 E Warrant with each warrant to purchase one share of common stock, and one Class F Warrant with each warrant to purchase one share of common stock. Each unit was sold at a public offering price of $0.25. The Class E and Class F Warrants in the units are immediately exercisable at a price of $0.25 per share. The Class E Warrants will expire five years from the date of issuance and the Class F Warrants will expire eighteen months from the date of issuance. The shares of common stock (or pre-funded warrants in lieu thereof) and accompanying warrants were only purchased 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, are approximately $4.0 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. 333-275137) (the “Registration Statement”), which was declared effective by the Securities and Exchange Commission (the "SEC") on January 31, 2024. The offering was made only by means of a prospectus which is a part of the Registration Statement. A final prospectus relating to the offering has been filed with the SEC. Copies of the final prospectus relating to this offering 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 silicon nitride material platform, please visit www.sintx.com.

Forward-Looking Safe Harbor Statement

This press release contains forward-looking statements, including those relating to the offering, 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 29, 2023, 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 Technologies
801.839.3502
IR@sintx.com


FAQ

What is the public offering size of SINTX Technologies, Inc. (SINT)?

SINTX Technologies, Inc. (SINT) closed a public offering of 16,000,000 units.

What is the public offering price of SINTX Technologies, Inc. (SINT)?

The public offering price of SINTX Technologies, Inc. (SINT) was $0.25 per unit.

Who acted as the sole placement agent for the public offering of SINTX Technologies, Inc. (SINT)?

Maxim Group LLC acted as the sole placement agent for the public offering of SINTX Technologies, Inc. (SINT).

Who acted as the financial advisor for the public offering of SINTX Technologies, Inc. (SINT)?

Ascendiant Capital Markets LLC acted as the financial advisor for the public offering of SINTX Technologies, Inc. (SINT).

What is the gross proceeds of the public offering of SINTX Technologies, Inc. (SINT)?

The gross proceeds of the public offering of SINTX Technologies, Inc. (SINT) are approximately $4.0 million.

Sintx Technologies, Inc.

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Surgical and Medical Instrument Manufacturing
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About SINT

amedica is the only manufacturer of medical grade silicon nitride, an innovative biomaterial technology ideal for use in spinal fusion and across a variety of medical applications. our silicon nitride features a unique nanosurface texture that promotes bone growth and addresses clinical needs by providing excellent imaging capabilities and demonstrating antibacterial characteristics. our interbody fusion devices and pedicle screw systems are designed to benefit both the patient and the surgeon. with the only fda registered and iso 1345 certified silicon nitride medical device manufacturing facility in the world and a strong sales and distribution organization, we are committed to providing innovative healthcare solutions that improve patient quality of life.