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Press release content from Globe Newswire. The AP news staff was not involved in its creation.

SINTX TECHNOLOGIES ANNOUNCES EXPIRATION OF OVERSUBSCRIBED RIGHTS OFFERING

February 4, 2020 GMT

RIGHTS OFFERING OVERSUBSCRIBED BY MORE THAN 53%

SALT LAKE CITY, UT, Feb. 04, 2020 (GLOBE NEWSWIRE) -- SINTX Technologies, Inc. (NASDAQ: SINT) (“SINTX” or the “Company”), an original equipment manufacturer (OEM) ceramics company that develops and commercializes silicon nitride for medical and non-medical applications, announced today the expiration of the Company’s rights offering that was oversubscribed. The subscription period for its previously announced rights offering of units at a subscription price of $1,000 per unit, consisting of one share of Series C Convertible Preferred Stock with a face value of $1,000 (and immediately convertible into shares of SINTX’s common stock at a conversion price of $1.4814 per share) and 675 warrants to purchase SINTX’s common stock with an exercise price of $1.50 per share, expired on February 3, 2020, and these rights are no longer exercisable (the “Offering”).

The subscriptions totaled approximately 14,410 units (approximately 53% oversubscribed). Due to the over-subscription of the units, the Company upsized the Offering from 8,000 units to 9,440 units. The participants are expected to be reduced pro-rata from the approximately 14,410 units to the total upsized Offering of 9,440 units. Preliminary estimates indicate that the Company will be raising gross proceeds of approximately $9.4 million in the oversubscribed Offering. The results of the oversubscribed Offering and SINTX’s estimates regarding the aggregate gross proceeds of the oversubscribed Offering to be received by SINTX are subject to finalization and verification by its subscription agent.

SINTX anticipates that closing of the Offering will occur on or about February 6, 2020, subject to satisfaction or waiver of all conditions to closing. Upon the closing, the subscription agent will distribute, by way of direct registration in book-entry form or through the facilities of DTC, as applicable, shares of its Series C convertible preferred stock and warrants to holders of rights who have validly exercised their rights and paid the subscription price in full. No physical stock or warrant certificates will be issued to such holders.

Maxim Group LLC acted as Dealer-Manager for the Offering. Questions about the Offering or requests for copies of the preliminary and final prospectuses, may be directed to Maxim Group LLC at 405 Lexington Avenue, New York, NY 10174, 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 was declared effective by the U.S. Securities and Exchange Commission (SEC) on January 17, 2020. The prospectus relating to and describing the terms of the 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. 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 Corporation

SINTX Technologies is an OEM ceramics company that develops and commercializes silicon nitride for medical and non-medical applications. The core strength of SINTX Technologies is the manufacturing, research, and development of silicon nitride ceramics for external partners. The Company presently manufactures silicon nitride spinal implants in its FDA registered and ISO 13485 certified manufacturing facility for CTL-Amedica, the exclusive retail channel for silicon nitride spinal implants.

For more information on SINTX Technologies or its silicon nitride material platform, please visit www.sintx.com.

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 (PSLRA) that are subject to a number of risks and uncertainties. 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 11, 2019, and in SINTX’s other filings with the SEC. SINTX disclaims any obligation to update any forward-looking statements. 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 Technologies801.839.3502 IR@sintx.com