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SINTX TECHNOLOGIES ANNOUNCES REVERSE STOCK SPLIT EFFECTIVE DECEMBER 20, 2022
SINTX common stock expected to begin trading on a split-adjusted basis on December 20, 2022 SALT LAKE CITY, Dec. 19, 2022 (GLOBE NEWSWIRE) -- SINTX
About this update from Sintx Technologies, Inc.
[{"type":"text","content":"SINTX common stock expected to begin trading on a split-adjusted basis on December 20, 2022 SALT LAKE CITY, Dec. 19, 2022 (GLOBE NEWSWIRE) -- SINTX Technologies, Inc. (NASDAQ: SINT) today announced that its Board of Directors has declared a 1-for-100 reverse stock split of the company’s common stock. The reverse stock split will become effective on December 20, 2022 (the “Effective Date”) at 12:01 AM Eastern Time. The company’s common stock is expected to begin trading on a split-adjusted basis when the markets open on December 20, 2022 under the current trading symbol “SINT.” The reverse stock split is primarily intended to bring the company into compliance with the minimum bid price requirements for maintaining its listing on the Nasdaq Capital Market. The new CUSIP number following the reverse split will be 829392 604. As a result of the reverse stock split, every 100 shares of the company’s common stock issued and outstanding will be automatically reclassified into one new share of common stock. Proportionate adjustments will be made to the conversion and exercise prices and the number of shares underlying the Company’s outstanding warrants, preferred stock, equity awards and options, and the number of shares reserved under the Company’s equity incentive plan. The reverse stock split will not affect the number of authorized shares of common stock or the par value of the common stock. The reverse stock split will affect all stockholders uniformly and will not alter any stockholder’s percentage interest in the company, except to the extent that the reverse stock split would result in a stockholder owning a fractional share. Any fractional shares of common stock resulting from the reverse stock split will be rounded up to the nearest whole share and no stockholders will receive cash in lieu of fractional shares. The company’s transfer agent, American Stock Transfer & Trust Company, LLC (“AST”), is acting as the exchange agent for the reverse stock split. AST will provide instructions to stockholders of record regarding the exchange of stock certificates. Stockholders who hold their shares in brokerage accounts or “street name” are not required to take any action to effect the exchange of their shares. Additional information about the reverse stock split and stockholder approval can be found in the Company’s definitive proxy sta...