Business
SINTX TECHNOLOGIES INFORMS STOCKHOLDERS OF KEY DATES AND TERMS RELATED TO ANNOUNCED RIGHTS OFFERING
SALT LAKE CITY, UT, Sept. 12, 2022 (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, Sept. 12, 2022 (GLOBE NEWSWIRE) -- SINTX Technologies, Inc. (NASDAQ: SINT) (“SINTX” or the “Company”), an original equipment manufacturer of advanced ceramics, 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, September 21, 2022 to be considered a stockholder of record on Friday, September 23, 2022. Holders of the Company’s Series B Preferred Shares, Series C Preferred Shares, and warrants issued March 6, 2018, May 8, 2018, May 14, 2018, and February 6, 2020 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, share of Series B Preferred Stock, share of Series C Preferred Stock, and each participating 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 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 10, 2022 (the “Conversion Price”)), and 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 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 September 26, 2022 through 5:00 PM ET on Monday, October 10, 2022, unless extended in the sole ...