What's Going On With SiNtx Technologies Stock?
Portfolio Pulse from Erica Kollmann
SiNtx Technologies, Inc. (NASDAQ:SINT) experienced volatility after announcing a cooperative research and development agreement with the U.S. Army and a $4 million stock offering. The agreement focuses on ceramic additive manufacturing and ceramic matrix composites. The stock offering is priced at 25 cents per share for 16 million units, with expected gross proceeds of $4 million, closing on Feb. 2. SINT shares dropped 19.9% to around 19 cents.
January 31, 2024 | 4:03 pm
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NEGATIVE IMPACT
SiNtx Technologies announced a research agreement with the U.S. Army and a $4 million stock offering, leading to a 19.9% drop in share price to 19 cents.
The announcement of the stock offering likely diluted shareholder value, causing a significant drop in share price. The research agreement with the U.S. Army is positive, but the immediate financial impact of the stock offering has a more pronounced negative effect on the stock price in the short term.
CONFIDENCE 90
IMPORTANCE 85
RELEVANCE 100