Business
SINTX Technologies Announces Closing of $9.7 Million Registered Direct Offerings and Provides Business Update
SALT LAKE CITY, UT, July 09, 2020 (GLOBE NEWSWIRE) -- SINTX Technologies, Inc. (NASDAQ: SINT) (“SINTX” or the “Company”), an original equipment manufacturer
About this update from Sintx Technologies, Inc.
[{"type":"text","content":"SALT LAKE CITY, UT, July 09, 2020 (GLOBE NEWSWIRE) -- 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 offerings which resulted in the issuance of a total of 6,100,000 shares of its common stock for gross proceeds of approximately $9,700,000 priced at-the-market under Nasdaq rules.\n The shares of common stock were offered pursuant to a shelf registration statement on Form S-3 (File No. 333-230492) previously filed and declared effective by the Securities and Exchange Commission (SEC) on April 5, 2019. The offering of the shares of common stock was made by means of prospectus supplements that were filed with the SEC and form a part of the registration statement. Maxim Group LLC acted as the sole placement agent for the offering. SINTX intends to use the net proceeds from the offerings for general working capital and general corporate purposes. This press release does not constitute an offer to sell or the solicitation of an offer to buy, nor will there be any sales of these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of such jurisdiction. A prospectus supplement relating to the shares of common stock was filed by SINTX with the SEC. Copies of the prospectus supplement relating to the registered direct offering, together with the accompanying prospectus, can be obtained at the SEC's website at www.sec.gov or from Maxim Group LLC, 405 Lexington Avenue, New York, NY 10174, Attention: Syndicate Department, or via email at [email protected] or telephone at (212) 895-3745. Update on Common Shares Outstanding A summary of the Company’s Capitalization Table as of June 30, 2020, is shown below. Warrants Outstanding 1,147,140Options Outstanding (as of December 31, 2019) 377Shares Available under 2017 Equity Incentive Plan 2,520Total Potentially Dilutive Securities 1,150,037 Common Shares Outstanding (as of June 30, 2020) 19,430,913Series B Outstanding (as converted)* 93,560Series C Outstanding (as converted)** 35,778Total Shares & Potentially Dilutive Securities 20,710,288 Total Debt Outstanding$ - *126 Series B outstanding. Assuming ...