SINTX TECHNOLOGIES ANNOUNCES COMMENCEMENT OF RIGHTS OFFERING SUBSCRIPTION PERIOD
January 23 2020 - 7:00AM
SINTX Technologies, Inc. (NASDAQ: SINT) (“SINTX” or the “Company”),
an original equipment manufacturer (OEM) ceramics company that
develops and commercializes silicon nitride for medical and
non-medical applications, today announced that the subscription
period for the rights offering has commenced. If exercising
subscription rights through a broker, dealer, bank or other
nominee, rights holders should promptly contact their nominee and
submit subscription documents and payment for the units subscribed
for in accordance with the instructions and within the time period
provided by such nominee. The broker, dealer, bank or other nominee
may establish a deadline before February 3, 2020, by which
instructions to exercise subscription rights, along with the
required subscription payment, must be received.
All record holders of rights that wish to
participate in the rights offering must deliver a properly
completed and signed subscription rights statement, together with
payment of the subscription price for both basic subscription
rights and any over subscription privilege election, to American
Stock Transfer & Trust Company, LLC (the “Subscription Agent”),
to be received before 5:00 PM Eastern Time on February 3, 2020. The
mailing address for the Subscription Agent is:
By mail, hand or overnight courier:
American Stock Transfer & Trust Company, LLC
Operations DepartmentAttn: Reorg Department6201 15th
AvenueBrooklyn, NY 11219
Under the rights offering, SINTX distributed one
non-transferable subscription right for each share of common stock,
Series B Preferred Stock and each participating warrant (on an
as-if-converted-to-common-stock basis) held or deemed held on
January 17, 2020, the record date. Each right entitles the holder
to purchase one unit, at a subscription price of $1,000 per unit,
consisting of one share of Series C Convertible Preferred Stock
with a stated value of $1,000 (and immediately convertible into
common stock at an initial conversion price of $2.00) and 500
warrants with an initial exercise price of $2.00. The warrants will
be exercisable for five (5) years after the date of issuance. The
subscription rights are non-transferrable and may only be exercised
during the subscription period.
SINTX has engaged Maxim Group LLC as
dealer-manager in the offering. Questions about the rights offering
or requests for copies of the preliminary and final prospectuses,
when available, may be directed to Maxim Group LLC at 405 Lexington
Avenue, New York, NY 10174, Attention Syndicate Department, or via
email at syndicate@maximgrp.com or telephone at (212) 895-3745.
The Company's registration statement on Form S-1
was declared effective by the U.S. Securities and Exchange
Commission (SEC) on January 17, 2020. The prospectus relating to
and describing the terms of the rights offering has been filed with
the SEC as a part of the registration statement and is available on
the SEC's web site at http://www.sec.gov. Copies of the
preliminary and final prospectuses for the rights offering may be
obtained, when available, from Maxim Group LLC, 405 Lexington
Avenue, New York, NY 10174, Attention Syndicate Department, email:
syndicate@maximgrp.com or telephone (212) 895-3745.
This press release does not constitute an offer
to sell or the solicitation of an offer to buy these securities,
nor will 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 registration or qualification under the
securities laws of any such state or jurisdiction.
About SINTX Corporation
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 presently manufactures
silicon nitride spinal implants in its FDA registered and ISO 13485
certified manufacturing facility for CTL-Amedica, the exclusive
retail channel for silicon nitride spinal implants.
For more information on SINTX
Technologies or its silicon nitride material platform, please visit
www.sintx.com.
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. 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 11, 2019, 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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