SINTX TECHNOLOGIES ANNOUNCES COMMENCEMENT OF RIGHTS OFFERING SUBSCRIPTION PERIOD AND UPDATED TERMS AND DATES OF ITS PREVIOUSLY ANNNOUNCED RIGHTS OFFERING
September 26 2022 - 9:00AM
SINTX Technologies, Inc. (NASDAQ: SINT) (“SINTX” or the “Company”),
an original equipment manufacturer of advanced ceramics, today
announced that the subscription period for its previously announced
rights offering has commenced. The Company has also extended the
subscription period to October 12, 2022 at 5:00 PM ET to
accommodate the Columbus Day holiday. 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 October 12, 2022, by which
instructions to exercise subscription rights, along with the
required subscription payment, must be received.
All record holders of rights certificates that
wish to participate in the rights offering must deliver a properly
completed and signed rights certificate, together with payment of
the subscription price for both basic subscription rights and any
over-subscription privilege election, to the Subscription Agent, to
be received before 5:00 PM Eastern Time on October 12, 2022. The
Subscription Agent is:
American Stock Transfer & Trust Company,
LLCOperations CenterAttn: Reorganization Department6201
15th AvenueBrooklyn, New York 11219
The Company also announced updated pricing
information for its previously announced rights offering. 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 D Convertible Preferred Stock with a face value of $1,000
(and immediately convertible into shares of SINTX’s common stock at
a conversion price equal to 90% of the lowest closing price for a
share of SINTX’s common stock as quoted on the Nasdaq Capital
Market, during the five (5) trading days prior to and including
October 12, 2022 (the “Conversion Price”)), Class A warrants to
purchase, at an exercise price equal to the Conversion Price, a
number of shares of SINTX’s common stock equal to $1,000 divided by
the Conversion Price and Class B Warrants to purchase, at an
exercise price equal to the Conversion Price, a number of shares of
SINTX’s common stock equal to $1,000 divided by the Conversion
Price. The Class A warrants will be exercisable for 5 years after
the date of issuance and the Class B warrants will be exercisable
for 3 years after the date of issuance.
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
300 Park Avenue, New York, NY 10022, 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
(Registration No. 333-266070) was declared effective by the
Securities and Exchange Commission (“SEC”) on September 23, 2022.
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 final prospectus for the rights
offering may be obtained, when available, from Maxim Group LLC, 300
Park Avenue, New York, NY 10022, 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 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 advanced ceramics material platforms, please
visit www.sintx.com.
Forward-Looking Statements
This press release contains forward-looking
statements, including those relating to the 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; 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 its Annual Report on Form 10-K, filed with the Securities and
Exchange Commission (SEC) on March 25, 2022, 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
Technologies801.839.3502IR@sintx.com
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