Does anyone have SINT or NSPR in their portfolios? I thought that these would be good investments because of the products but their performance has resulted in major loses for me. NSPR is considering anywhere from 5 to 20 R/S and SINT has been tanking ever since this:
On February 25, 2021, SINTX Technologies, Inc. (the ?Company?) entered into an Equity Distribution Agreement (the ?Distribution Agreement?) with Maxim Group LLC (?Maxim?), pursuant to which the Company may sell from time to time, shares of its common stock, $0.01 par value per share, having an aggregate offering price of up to $15,000,000 million (the ?Shares?) through Maxim, as agent (the ?Offering?). On February 25, 2021, the Company filed a prospectus supplement with the Securities and Exchange Commission in connection with the Offering (the ?Prospectus Supplement?) under its existing Registration Statement on Form S-3 (File No 333-249267), which became effective on October 13, 2020 (the ?Registration Statement?).
Subject to the terms and conditions of the Distribution Agreement, Maxim will use its commercially reasonable efforts to sell the Shares from time to time, based on the Company?s instructions. Under the Distribution Agreement, Maxim may sell the Shares by any method permitted by law deemed to be an ?at-the-market? offering as defined in Rule 415 promulgated under the Securities Act of 1933, as amended (the ?Securities Act?), including, without limitation, sales made directly on the Nasdaq Capital Market.
The Company has no obligation to sell any of the Shares, and may at any time suspend offers under the Distribution Agreement. The Offering will terminate upon the earlier of (i) the sale of Shares having an aggregate offering price of $15,000,000 million, (ii) the termination by either the Agent or the Company upon the provision of fifteen (15) days written notice, or (iii) February 25, 2022.
Under the terms of the Distribution Agreement, Maxim will be entitled to a transaction fee at a fixed rate of 2.0% of the gross sales price of Shares sold under the Distribution Agreement. The Company will also reimburse Maxim for certain expenses incurred in connection with the Distribution Agreement, and agreed to provide indemnification and contribution to Maxim with respect to certain liabilities under the Securities Act and the Securities Exchange Act of 1934, as amended.
The Company intends to use the net proceeds from the sale of Shares for working capital and general corporate purposes. The Company may also use a portion of the net proceeds to invest in or acquire businesses or technologies that the Company believes are complementary to its own, although the Company has no current plans, commitments or agreements with respect to any acquisitions as of the date of this Current Report on Form 8-K.
The foregoing description of the Distribution Agreement does not purport to be complete and is qualified in its entirety by reference to the full text of the Distribution Agreement, a copy of which is filed hereto as Exhibit 10.1.
This Current Report on Form 8-K shall not constitute an offer to sell or the solicitation of an offer to buy the Shares, nor shall there by any offer, solicitation or sale of the Shares in any state or country in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or country.
