Sintx Technologies (NASDAQ: SINT) stock jumped over 16% in the early trading hours of Thursday following the launch of a $1.5 million public offering of common stock.
Sintx Technologies (SINT) recently revealed the pricing of its public stock offering at $0.021 per share. The company intends to offer 71.6 million shares, with an expected gross proceeds of approximately $1.5 million before deductions for fees and estimated expenses. The offering will close on April 5, 2024, subject to customary closing conditions.
The net proceeds generated from the offering, if any, are earmarked for working capital and general corporate purposes. Maxim Group LLC will serve as the sole placement agent for this offering.
This announcement comes in the wake of Sintx Technologies’ recent financial report for the fourth quarter of 2023. The company posted earnings per share of -9 cents, beating analyst estimates for EPS of -75 cents. Moreover, Sintx reported revenue of $902,000, marking a noteworthy 12.75% increase over analyst estimates of $800,000 ($800K).
Sintx Technologies (NASDAQ: SINT) Stock Movement
SINT stock surged 16.15% to $0.02 in the early trading hours of Thursday. The traders have exchanged hands with 34,438,998 (34.43 million) shares compared to the average daily trading volume of 5.64 million. The stock has a market capitalization of $0.58 million.
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