SINTX Technologies, Inc. (SINTX) has entered into a Sales Agreement with H.C. Wainwright & Co. to sell up to $6.413,876 worth of common stock at market prices. The offering is subject to General Instruction I.B.6 of Form S-3, limiting public offerings to no more than one-third of the public float ($19.241,630) in any 12-month period, as long as the public float remains below $75.0 million.
The company's core business focuses on advanced ceramics, particularly silicon nitride (Si₃N₄), for biomedical and antipathogenic applications. SINTX's biomedical products, primarily used in spinal implants, have been in use since 2008 and demonstrate biocompatibility, bioactivity, antipathogenic properties, and bone affinity. The company has recently submitted a 510(k) premarket notification for its novel silicon nitride osteotomy wedges, entering the foot and ankle reconstruction market. Additionally, SINTX's silicon nitride has shown antibacterial properties, making it suitable for various other fusion device applications.
SINTX also explores antipathogenic applications of its material, incorporating silicon nitride antipathogenic powder into products like face masks, filters, and wound care devices to limit the spread of infection and disease. The company's manufacturing facilities are based in Salt Lake City, Utah, and its products are primarily sold in the United States.
The offering will be structured as an "at-the-market offering," allowing SINTX to sell shares at prices and terms determined by market conditions. The net proceeds from the offering are intended to be used for working capital and general corporate purposes, potentially including investments in complementary businesses or technologies. However, the company has broad discretion in the use of the proceeds, and the final allocation of funds may vary significantly from the initially stated purposes.
Investors should be aware of the risks associated with the offering, including potential dilution from existing warrants and options, the volatility of the company's stock price, and the uncertainties of the company's business and financial condition.
