SINTX Technologies Announces Pricing Of $1.5M Public Offering Of 71.6M Shares Of Common Stock At A Price Of $0.021 Per Share
Portfolio Pulse from Benzinga Newsdesk
SINTX Technologies, Inc. (NASDAQ:SINT) announced the pricing of its public offering of 71.6 million shares at $0.021 per share, aiming to raise approximately $1.5 million. The proceeds are intended for working capital and general corporate purposes, with Maxim Group LLC acting as the sole placement agent. The offering is expected to close on April 5, 2024.
April 03, 2024 | 1:02 pm
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SINTX Technologies announces a public offering of 71.6M shares at $0.021 each to raise $1.5M for working capital and general purposes.
The announcement of a public offering at a low price per share typically dilutes the value of existing shares, which can lead to a short-term negative impact on the stock price. The funds raised are for general corporate purposes, indicating a need for capital but not necessarily tied to immediate growth initiatives.
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