SINTX TECHNOLOGIES INFORMS STOCKHOLDERS OF KEY DATES AND TERMS RELATED TO ANNOUNCED RIGHTS OFFERING
December 27 2019 - 4:22PM
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 provided an informational update to
its security holders regarding its proposed rights offering and the
expected key dates and terms relative to the
offering. Security holders are advised that open market
purchases of SINTX's common stock be completed by Wednesday,
January 15, 2020 to be considered a stockholder of record on
Friday, January 17, 2020. Holders of the Company's Series B
Preferred Shares and warrants issued September 11, 2015, April 4,
2016, April 28, 2016, July 8, 2016, January 20, 2017, and May 14,
2018 are also entitled to participate in the rights offering on the
same terms as the common stockholders (collectively, the “Security
Holders”). Security Holders or other interested parties are advised
to direct all questions and informational requests to the contacts
listed below.
Under the proposed rights offering, SINTX will
distribute to the Security Holders, at no charge, one
non-transferable subscription right for each share of common stock
and Series B Preferred Stock and each warrant (on an
as-if-converted-to-common-stock basis) held on the record
date. Each right will entitle 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 face value of $1,000
(and immediately convertible into 500 shares of SINTX's common
stock at a conversion price of $2.00 per share) and 500 warrants to
purchase 500 shares of SINTX's common stock with an exercise price
of $2.00 per share. The warrants will be exercisable for 5
years after the date of issuance and shall be redeemable as
described in the preliminary and final prospectus, when
available.
The subscription rights are non-transferable and
may only be exercised during the anticipated subscription period of
Saturday, January 18, 2020 through 5:00 PM ET on Monday, February
3, 2020, unless extended in the sole discretion of the Company.
The expected calendar for the rights offering is
as follows:
- Wednesday, January 15, 2020:
Ownership Day — in order to be considered a stockholder of record
on Friday, January 17, 2020, shares should be acquired by this
date.
- Friday, January 17, 2020: Record Date
- Saturday, January 18, 2020:
Distribution Date; Subscription Period Begins
- Monday, February 3, 2020:
Subscription Period Ends 5:00 PM ET (unless extended at SINTX's
sole discretion)
Holders who exercise their subscription rights
in full will be entitled, if available, to subscribe for additional
units that are not purchased by other stockholders, on a pro rata
basis and subject to ownership limitations.
SINTX has engaged Maxim Group LLC as
dealer-manager in the rights 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.
A registration statement relating to these
securities has been filed with the Securities and Exchange
Commission but has not yet become effective. These securities may
not be sold nor may offers to buy be accepted prior to the time the
registration statement becomes effective. The rights offering,
which is expected to commence following the effectiveness of the
registration statement, is being made only by means of a written
prospectus. A preliminary prospectus relating to and describing the
proposed 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 website at 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 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 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, including those relating to a potential rights
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 Company’s ability to
complete the rights offering; volatility in the price of the
Company’s common stock; the 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 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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