Sintx Technologies, Inc. (SINT) has announced the pricing details of its forthcoming public offering, which includes 16 million units. Following the announcement, the company's stock suffered a 17 percent decline.
Currently, SINT's stocks are being traded on the Nasdaq for $0.20 each, decreasing by 17.82 percent or $0.04 per share. The shares have traded between $0.22 and $12.14 over the last year.
Each unit in the offering includes one share of common stock or one pre-funded warrant to purchase a share of common stock. It also consists of one Class F and one Class Warrant, with each warrant allowing the holder to purchase another share of common stock.
The Class E and Class F warrants included in the units can be exercised immediately at a rate of $0.25 per share. Class E Warrants will expire five years from the date of issue, whereas Class F Warrants will expire 18 months post-issue.
Sintx also stated that in this offering, shares of common stock (or pre-funded warrants as a substitute) and the accompanying warrants are sold as a pair but will be issued separately. They can be separated right after issuance.
The gross proceeds anticipated from the offering are around $4.0 million. The offering is expected to close on February 2, 2024.
