Current Report Filing (8-k)
March 19 2021 - 4:16PM
Edgar (US Regulatory)
UNITED
STATES
SECURITIES
AND EXCHANGE COMMISSION
Washington,
D.C. 20549
FORM
8-K
CURRENT
REPORT
Pursuant
to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date
of Report (Date of earliest event reported): March 15, 2021
SINTX
Technologies, Inc.
(Exact
name of registrant as specified in its charter)
Delaware
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001-33624
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84-1375299
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(State
or other jurisdiction
of
incorporation)
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(Commission
File
Number)
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(IRS
Employer
Identification
No.)
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1885
West 2100 South
Salt
Lake City, UT 84119
(Address
of principal executive offices, including Zip Code)
Registrant’s
telephone number, including area code: (801) 839-3500
(Former
name or former address, if changed since last report)
Check
the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant
under any of the following provisions:
[ ]
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Written
communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
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[ ]
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Soliciting
material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
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[ ]
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Pre-commencement
communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
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[ ]
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Pre-commencement
communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
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Securities
registered pursuant to Section 12(b) of the Act:
Title
of each class:
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Trading
Symbol(s):
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Name
of each exchange on which registered:
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Common
Stock, par value $0.01 per share
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SINT
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The
NASDAQ Capital Market
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Indicate
by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§
230.405 of this chapter) or Rule 12b–2 of the Securities Exchange Act of 1934 (§ 240.12b–2 of this chapter).
Emerging
growth company [ ]
If
an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for
complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. [ ]
Item
1.01. Entry into a Material Definitive Agreement.
On
March 15, 2021, SINTX Technologies, Inc. (the “Company”) received funding under the Small Business Administration’s
(“SBA”) Second Draw Program under the Paycheck Protection Program (“PPP”) (the “PPP Loan”)
from First State Community Bank (the “Lender”). The principal amount of the PPP Loan is $509,148.00. The PPP was established
under the Coronavirus Aid, Relief, and Economic Security Act (the “CARES Act”) and is administered by the U.S. Small
Business Administration (the “SBA”). The PPP Loan has a five-year term, maturing on March 15, 2026. The interest rate
on the PPP Loan is 1.0% per annum.
The
Company will not be obligated to make any payments of principal or interest if the Company submits a loan forgiveness application
to the Bank within 10 months after the end of the Company’s covered loan forgiveness period (as defined and interpreted
by the PPP Rules) and such loan forgiveness is allowed. Generally, all or a portion of the PPP Loan may be forgiven if the Company
maintains its employment and compensation within certain parameters during the twenty-four (24) week period following the loan
origination date and the proceeds of the PPP Loan are spent on payroll costs, rent or lease agreements dated before February 15,
2020 and utility payments arising under service agreements dated before February 15, 2020.
The
foregoing description of the PPP Loan is qualified in its entirety by reference to the promissory note for the PPP Loan, which
is attached hereto as Exhibit 10.1 and is incorporated by reference.
Item
2.03. Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant.
The
information set forth under Item 1.01 of this Current Report on Form 8-K is incorporated by reference into this Item 2.03.
Item
9.01 Financial Statements and Exhibits.
SIGNATURES
Pursuant
to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf
by the undersigned hereunto duly authorized.
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SINTX
Technologies, Inc.
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Date:
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March
19, 2021
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By:
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/s/
B. Sonny Bal
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B.
Sonny Bal
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Chief
Executive Officer
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