Form 8-K - Current report
07 Novembre 2023 - 4:10PM
Edgar (US Regulatory)
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2023-11-07
2023-11-07
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UNITED
STATES
SECURITIES
AND EXCHANGE COMMISSION
Washington,
D.C. 20549
FORM
8-K
CURRENT
REPORT
Pursuant
to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date
of Report (Date of earliest event reported): November 7, 2023
SINTX
Technologies, Inc.
(Exact
name of registrant as specified in its charter)
Delaware |
|
001-33624 |
|
84-1375299 |
(State
or other jurisdiction
of
incorporation) |
|
(Commission
File
Number) |
|
(IRS
Employer
Identification
No.) |
1885
West 2100 South
Salt
Lake City, UT 84119
(Address
of principal executive offices, including Zip Code)
Registrant’s
telephone number, including area code: (801) 839-3500
(Former
name or former address, if changed since last report)
Check
the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under
any of the following provisions:
☐ |
Written
communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
|
|
☐ |
Soliciting
material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
|
|
☐ |
Pre-commencement
communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
|
|
☐ |
Pre-commencement
communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
Securities
registered pursuant to Section 12(b) of the Act:
Title
of each class: |
|
Trading
Symbol(s): |
|
Name
of each exchange on which registered: |
Common
Stock, par value $0.01 per share |
|
SINT |
|
The
NASDAQ Capital Market |
Indicate
by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§ 230.405
of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§ 240.12b-2 of this chapter).
Emerging
growth company ☐
If
an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying
with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
Item
8.01 Other Events.
On
November 7, 2023, the Company issued a press release announcing that it has entered into a long-term supply agreement for aerospace components.
A copy of the press release is attached as Exhibit 99.1 to this Current Report on Form 8-K and is incorporated herein by reference.
Item
9.01 Financial Statements and Exhibits.
SIGNATURES
Pursuant
to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by
the undersigned hereunto duly authorized.
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|
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SINTX
Technologies, Inc. |
|
|
|
|
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Date: |
November
7, 2023 |
|
By: |
/s/
B. Sonny Bal |
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B.
Sonny Bal |
|
|
|
|
Chief
Executive Officer |
Exhibit
99.1
SINTX
TECHNOLOGIES ENTERS A LONG-TERM SUPPLY AGREEMENT FOR AEROSPACE COMPONENTS
SALT
LAKE CITY, November 7, 2023 (GLOBE NEWSWIRE) -- SINTX Technologies, Inc. (www.sintx.com) (NASDAQ: SINT; “SINTX” or the
“Company”), a manufacturer and developer of advanced ceramic materials and related technologies, announced that it has entered
a Long-Term Agreement (LTA) to supply jet engine components made of its silicon nitride. The agreement materialized after a rigorous
2-year qualification of the Company’s Operational and Quality Management Systems and manufacturing capabilities, and successful
testing of prototype components.
“To
meet the challenge of making aerospace parts with complex designs, SINTX had to innovate new manufacturing capabilities and processes,”
said Dave O’Brien, Executive Vice President and Chief Operating Officer at SINTX. “This entailed going beyond our expertise
in producing medical implants into manufacturing strong and durable jet engine components under an AS9100D certified quality management
system.”
“This
LTA is one example of the non-medical opportunities that SINTX is targeting, as the Company seeks to expand its capabilities beyond biomedical
implants toward producing industrial and aerospace products. SINTX’s Maryland facility, for instance, is making prototypes for
several energy and defense applications,” added Mr. O’Brien.
There
are no minimum requirements under the LTA, and annual revenues are projected to be less than $0.25 million. The LTA allows SINTX to fulfill
all of the customer’s requirements for silicon nitride aerospace components as long as SINTX meets specified quality, delivery,
and purchase order metrics. The LTA extends to the end of 2026 with a customer option for renewal, and with periodic demand forecasts
guiding supply plan management and revenues.
###
About
SINTX Technologies, Inc.
SINTX
Technologies is an advanced ceramics company that develops and commercializes materials, components, and technologies for medical and
technical applications. SINTX is a global leader in the research, development, and manufacturing of silicon nitride, and its products
have been implanted in humans since 2008. Over the past two years, SINTX has utilized strategic acquisitions and alliances to enter into
new markets. The Company has manufacturing facilities in Utah and Maryland.
For
more information on SINTX Technologies or its materials platform, visit www.sintx.com.
Forward-Looking
Statements
This
press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 (PSLRA),
including, but not limited to, statements regarding SINTX’s ability to effectively manufacture ceramic products, the market for
and benefits of SINTX’s ceramic products, SINTX’s ability to effectively compete in the medical, industrial, and aerospace
industries, and other statements that are not based on historical fact. Such forward-looking statements are subject to a number of risks
and uncertainties that may cause actual results to differ from current expectations. Risks and uncertainties that may cause such differences
include, among other things: SINTX’s products may not prove to be as effective as other products currently being commercialized
or to be commercialized in the future by competitors; risks inherent in manufacturing and scaling up to commercial quantities while maintaining
quality controls and qualification standards; the uncertainties inherent in new product development, including the cost and time required
to commercialize such product(s); market acceptance of SINTX’s products once commercialized; risks related to manufacturing products
and market acceptance in the highly regulated aerospace industry; SINTX’s ability to realize revenue and meet its order obligations
under the LTA; the customer’s right to terminate the LTA; volatility in the price of SINTX’s common stock; SINTX’s
ability to raise funding and other competitive developments. Readers are cautioned not to place undue reliance on the forward-looking
statements, which speak only as of the date on which they are made and reflect management’s current estimates, projections, expectations
and beliefs. There can be no assurance that any of the anticipated results will occur on a timely basis or at all due to certain risks
and uncertainties, a discussion of which can be found in SINTX’s Risk Factors disclosure in its Annual Report on Form 10-K, filed
with the Securities and Exchange Commission (SEC) on March 29, 2023, and in SINTX’s other filings with the SEC. SINTX disclaims
any obligation to update any forward-looking statements. SINTX undertakes no obligation to publicly revise or update the forward-looking
statements to reflect events or circumstances that arise after the date of this report.
Business
and Media Inquiries for SINTX:
SINTX
Technologies
801.839.3502
IR@sintx.com
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