SINTX Technologies Announces Closing of $8.2 Million Registered Direct Offering
August 10 2020 - 9:00AM
SINTX Technologies, Inc. (NASDAQ: SINT) (“SINTX” or the “Company”),
an original equipment manufacturer (OEM) ceramics company focused
on silicon nitride and its applications announced the closing of
its previously announced registered direct offering of 3,415,000
shares of its common stock at a purchase price of $2.40 per share
for gross proceeds of $8.2 million priced at-the-market under
Nasdaq rules.
The shares of common stock were 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 was made by means of prospectus supplements
that were filed with the SEC and form a part of the registration
statement.
Maxim Group LLC acted as the sole placement
agent for the offering. SINTX intends to use the net proceeds from
the offerings for general working capital and general corporate
purposes.
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 securities 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 was
filed by SINTX with the SEC. 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
13485:2016 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, that future studies may
not confirm the antiviral properties of silicon nitride; that
application of silicon nitride to products may not result in
products with antiviral properties; 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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