SiNtx Technologies, Inc. - SINT STOCK NEWS

SINTX Technologies, Inc. (NASDAQ: SINT) has announced a public offering of 2,150,000 units, priced at $5.60 each. Each unit consists of one share of common stock or one pre-funded warrant, along with one Class C Warrant and half of one Class D Warrant. The offering is expected to yield approximately $12 million in gross proceeds before expenses and is anticipated to close on February 10, 2023. The securities are offered under SEC regulations, and Maxim Group LLC is serving as the placement agent. SINTX focuses on advanced ceramics, particularly silicon nitride, for medical applications and has a history of product implantation since 2008.

SINTX Technologies reported preliminary unaudited financial results for Q4 2022 and the full year, highlighting a revenue of approximately $770k in Q4 and $1.6 million for the year. This marks a consistent quarter-on-quarter growth, surpassing previous annual revenues since selling its spine business in 2018. Government contracts contributed $521k in Q4 and $962k for the year, while commercial revenue from aerospace, energy, dental, and spine sectors reached $248k in Q4 and $602k annually. The company expects growth in 2023 and anticipates the Armor facility in Salt Lake City to be operational by Q1.

SINTX Technologies (NASDAQ: SINT) has announced it has regained compliance with NASDAQ's minimum bid price requirements. The company confirmed that its common stock closed at $1.00 or more per share for ten consecutive business days, from December 20, 2022, to January 4, 2023. This compliance with Listing Rule 5550(a)(2) means the previous issue is now resolved. SINTX is known for developing advanced ceramics for medical and technical applications, and its products have been in human use since 2008.

SINTX Technologies has secured a Phase I contract worth $150K from the U.S. Missile Defense Agency to enhance electrochemical machining (ECM) for aerospace components. This project focuses on developing corrosion-resistant, dielectric coatings aimed at extending tool life and reducing machining costs. Collaborating with Voxel Innovations, SINTX plans to scale up this technology for prototype development after successful contract completion. The U.S. micromachining market is growing, projected at $2.5 billion in 2019, with the non-traditional machining segment, including ECM, leading market advances.

SINTX Technologies announces a 1-for-100 reverse stock split for its common stock effective on December 20, 2022. This action aims to meet Nasdaq's minimum bid price requirements. Following the split, every 100 shares will convert to one new share, with adjustments to the exercise prices and shares underlying existing securities. This change will not impact stockholders’ percentage interests, except for fractional shares, which will be rounded up. The company retains its current trading symbol, SINT.

SINTX Technologies has received a $1.5 million Phase II award from the Defense Advanced Research Projects Agency (DARPA) to develop thermal-environmental barrier coatings for high-temperature ceramic matrix composites (CMCs). This project aims to enable gas turbines to operate at up to 3,100°F, addressing lifetime issues in turbine components. The initiative promises improved performance and reduced maintenance costs for both military and commercial applications, along with significant societal benefits such as energy savings and lower emissions.

SINTX Technologies, Inc. (NASDAQ: SINT) announced preliminary results of its rights offering, which ended on October 12, 2022, with approximately $4.7 million in total subscriptions. Each right allowed the purchase of one unit for $1,000, which includes one share of Series D Convertible Preferred Stock and two classes of warrants, all convertible to common stock at $0.1510 per share. The offering is expected to close around October 17, 2022, pending conditions. The press release emphasizes the Company’s focus on advanced ceramics for medical applications, including silicon nitride products utilized since 2008.

SINTX Technologies, Inc. (NASDAQ: SINT) has received a production order for silicon nitride components from a global aerospace manufacturer. This follows a rigorous qualification process assessing SINTX's Operational and Quality Management Systems. The company's certified AS9100D manufacturing process enabled it to meet strict customer requirements. SINTX's STX-100 silicon nitride offers high strength and durability, making it ideal for aerospace applications. The company anticipates further orders as it expands in the aerospace market, leveraging its existing capabilities in Salt Lake City.