SINTX TECHNOLOGIES REGAINS COMPLIANCE WITH NASDAQ MINIMUM BID PRICE LISTING REQUIREMENT

Rhea-AI Summary

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.

Positive

• Regained compliance with NASDAQ minimum bid price requirements after stock price exceeded $1.00 for ten consecutive business days.

Negative

• The company has risks associated with maintaining compliance with NASDAQ Listing Rule 5550(a)(2) in the future.

SALT LAKE CITY, Jan. 06, 2023 (GLOBE NEWSWIRE) -- SINTX Technologies, Inc. (NASDAQ: SINT) (“SINTX” or the “Company”), an original equipment manufacturer of advanced ceramics, today announced that it has received notification from the NASDAQ Listing Qualifications Staff notifying the Company that it has regained compliance with NASDAQ's minimum bid price requirements for continued listing on the Nasdaq Capital Market. The notification indicated that because the closing bid price of the Company's common stock having been at $1.00 per share or greater for at least ten consecutive business days, from December 20, 2022 to January 4, 2023, the Company has regained compliance with Listing Rule 5550(a)(2) and the matter is now closed.

About SINTX Technologies

SINTX Technologies is an advanced ceramics company that develops and commercializes materials, components, and technologies for medical and technical applications. SINTX is a global leader in the research, development, and manufacturing of silicon nitride, and its products have been implanted in humans since 2008. Over the past two years, SINTX has utilized strategic acquisitions and alliances to enter into new markets. The Company has manufacturing facilities in Utah and Maryland.

For more information on SINTX Technologies or its advanced ceramics material platforms, 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 the company will be able to maintain compliance with Nasdaq Listing Rule 5550(a)(2). A discussion of additional risks and uncertainties can be found in SINTX's Risk Factors disclosure in its Annual Report on Form 10-K, filed with the SEC on March 25, 2022, 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 Technologies 
801.839.3502
IR@sintx.com

FAQ

What is the current status of SINTX Technologies' NASDAQ compliance?

SINTX Technologies has regained compliance with NASDAQ's minimum bid price requirements.

What was the closing bid price of SINTX stock to regain compliance?

SINTX stock closed at $1.00 or greater for ten consecutive business days.

What are the implications of the NASDAQ compliance for SINTX stock?

Regaining compliance allows SINTX to continue its listing on the NASDAQ Capital Market.

What is the significance of Listing Rule 5550(a)(2) for SINTX?

Listing Rule 5550(a)(2) requires a minimum bid price of $1.00 per share for continued NASDAQ listing.