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SINTX Technologies Announces Proposed Public Offering of Common Stock

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SINTX Technologies, Inc. announces a public offering of its common stock to raise funds for working capital and general corporate purposes. The offering, managed by Maxim Group , is subject to market conditions and aims to utilize the net proceeds for operational needs.
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  • The uncertainty regarding the completion of the offering, the size, and terms of the offering may pose risks for investors. The need for additional capital through a public offering could indicate financial challenges for SINTX.

The announcement by SINTX Technologies to offer and sell shares of its common stock is a strategic move that can be interpreted as an attempt to capitalize on market opportunities or to strengthen its financial position. From a market perspective, the timing and success of such offerings are influenced by the current market conditions, which include investor sentiment, industry trends and overall economic indicators.

For investors, the key concern is dilution of their holdings, as the issuance of new shares can lead to a decrease in existing shareholders' equity percentage. However, if the capital raised is used effectively for growth initiatives or improving operational efficiencies, it can lead to an appreciation of the stock value in the long term. The involvement of Maxim Group LLC as the sole placement agent suggests a targeted approach to the offering, aiming for investors who understand the company's value proposition and growth potential.

When evaluating the financial implications of SINTX's public offering, it's important to consider the company's current working capital and general corporate needs. The infusion of capital from a public offering can provide the liquidity needed to fund ongoing operations, invest in new projects, or pay down existing debt. The use of a shelf registration statement indicates a pre-planned financing strategy, allowing the company to act quickly when market conditions are favorable.

Investors will be scrutinizing the preliminary prospectus supplement for details on the offering's terms and the company's financial health. The success of the offering will largely depend on the investors' confidence in the company's management and future prospects. It's also worth noting that the 'reasonable best efforts' basis of the placement means that Maxim Group LLC is not obligated to purchase any unsold shares, which adds an element of risk for SINTX in terms of the certainty of capital raised.

Compliance with SEC regulations is a critical aspect of any public offering. SINTX's adherence to the requirements of an effective shelf registration statement on Form S-3 provides a regulatory framework for the offering, ensuring that all necessary disclosures and legal prerequisites are met. This process is designed to protect investors by providing them with access to essential information about the offering.

Investors should be aware that the offering is subject to legal constraints, such as state and jurisdictional securities laws. The language used in the announcement, stressing that the sale of securities will not occur in jurisdictions where it would be unlawful, highlights the company's commitment to regulatory compliance. The availability of the prospectus on the SEC's website further enhances transparency, allowing investors to make informed decisions.

SALT LAKE CITY, UT, March 22, 2024 (GLOBE NEWSWIRE) -- SINTX Technologies, Inc. (NASDAQ: SINT) (“SINTX” or the “Company”), an original equipment manufacturer of advanced ceramics, today announced that it intends to offer and sell shares of its common stock in a public offering. All shares of common stock in the offering are to be offered by SINTX. SINTX intends to use the net proceeds of the offering, if any, for working capital and general corporate purposes. The offering is subject to market conditions, and there can be no assurance as to whether or when the offering may be completed, or as to the actual size or terms of the offering.

Maxim Group LLC is acting as sole placement agent, on a reasonable best efforts basis, for the proposed offering.

The public offering is being made pursuant to an effective shelf registration statement on Form S-3, as amended (File No. 333-274951), previously filed with the U.S. Securities and Exchange Commission (SEC) on October 12, 2023, as amended, and declared effective on November 27, 2023. The securities may be offered only by means of a prospectus. A preliminary prospectus supplement and the accompanying prospectus relating to and describing the terms of the public offering have been filed with the SEC, will form a part of the effective registration statement and will be available on the SEC’s website at www.sec.gov. When available, copies of the preliminary prospectus supplement and accompanying prospectus relating to the public offering may also be obtained by contacting Maxim Group LLC, at 300 Park Avenue, 16th Floor, New York, NY 10022, Attention: Prospectus Department, or by telephone at (212) 895-3745 or by email at syndicate@maximgrp.com.

This press release does not constitute an offer to sell or the solicitation of an offer to buy these securities, 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 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: the timing of the offering, satisfaction of customary closing conditions related to the offering and sale of the shares of common stock, the use of proceeds from the offering, and SINTX’s ability to complete the offering; 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 did SINTX Technologies, Inc. announce?

SINTX Technologies, Inc. announced a public offering of its common stock.

What is the purpose of the public offering by SINTX Technologies, Inc.?

The purpose of the public offering is to raise funds for working capital and general corporate purposes.

Who is managing the public offering for SINTX Technologies, Inc.?

Maxim Group is acting as the sole placement agent for the proposed offering.

Where can interested parties find more information about the public offering?

Interested parties can find more information on the SEC's website or by contacting Maxim Group

Sintx Technologies, Inc.

NASDAQ:SINT

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Surgical and Medical Instrument Manufacturing
Manufacturing
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United States of America
SALT LAKE CITY

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.