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SINTX TECHNOLOGIES Announces Reverse Stock Split Effective

Key Takeaway: TECHNOLOGIES Announces Reverse Stock Split Effective May 28, 2024 LAKE CITY, May 23, 2024 (GLOBE NEWSWIRE) - SINTX Technologies, Inc. (NASDAQ: SINT) today announced that its Board of Directors has declared a 1-for-200 reverse stock split of the company's common stock. The rever

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TECHNOLOGIES Announces Reverse Stock Split Effective May 28, 2024
LAKE CITY, May 23, 2024 (GLOBE NEWSWIRE) - SINTX Technologies, Inc. (NASDAQ: SINT) today announced that its Board of Directors has declared
a 1-for-200 reverse stock split of the company's common stock. The reverse stock split will become effective on May 28, 2024 (the
"Effective Date") at 12:01 AM Eastern Time. The company's common stock is expected to begin trading on a split-adjusted
basis when the markets open on May 28, 2024 under the current trading symbol "SINT."
reverse stock split is primarily intended to bring the company into compliance with the minimum bid price requirements for maintaining
its listing on the Nasdaq Capital Market. The new CUSIP number for the Company's shares of common stock following the reverse split
a result of the reverse stock split, every 200 shares of the company's common stock issued and outstanding will be automatically
reclassified into one new share of common stock. Proportionate adjustments will be made to the conversion and exercise prices and the
number of shares underlying the Company's outstanding warrants, preferred stock, equity awards and the number of shares reserved
under the Company's equity incentive plan. The reverse stock split will not affect the number of authorized shares of common stock
or the par value of the common stock.
reverse stock split will affect all stockholders uniformly and will not alter any stockholder's percentage interest in the company,
except to the extent that the reverse stock split would result in a stockholder owning a fractional share. Any fractional shares of common
stock resulting from the reverse stock split will be rounded up to the nearest whole share and no stockholders will receive cash in lieu
of fractional shares.
reverse stock split will reduce the number of issued and outstanding shares of the Company's common stock from approximately 123
million to approximately 0.6 million.
Company's transfer agent, Equiniti Trust Company LLC, will send each stockholder a transaction statement indicating the number
of shares of common stock the stockholder holds after the reverse stock split. Stockholders owning shares via a broker, bank, trust or
other nominee will have their positions automatically adjusted to reflect the reverse stock split, subject to such broker's particular
processes. Such stockholders will not be required to take any action in connection with the reverse stock split.
information about the reverse stock split and stockholder approval can be found in the Company's definitive proxy statement filed
with the Securities and Exchange Commission (the "SEC") on April 16, 2024, which is available free of charge at the SEC's
website, www.sec.gov, and at the company's website, www.sintx.com.
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 several years, SINTX has utilized strategic acquisitions and alliances
to enter into new markets. The Company has manufacturing facilities in Utah and Maryland.
more information on SINTX Technologies or its silicon nitride material platform, please visit www.sintx.com.
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 implementing a reverse stock split will result in the company regaining compliance with Nasdaq
listing requirements or that if compliance is regained that the company will be able to maintain such compliance. 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 27, 2024, 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.
Last updated: May 23, 2024