Why SINTX Technologies Stock Is Down 21%

SINTX Technologies Inc (NASDAQ:SINT) shares are trading lower by 21.4% to $4.28 during Wednesday’s session after the company announced a $5 million private placement.

What To Know: SINTX Technologies, an advanced ceramics company providing solutions for medical applications, has completed a $5 million private placement with institutional and accredited investors.

The company issued 1,449,287 shares of common stock (or pre-funded warrants) at $3.45 per share, along with unregistered warrants to purchase an equal number of shares at $3.32 per share, expiring in five and a half years.

H.C. Wainwright & Co. acted as the exclusive placement agent. SINTX indicated that the funds will be used for working capital.

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According to data from Benzinga Pro, SINT has a 52-week high of $45.60 and a 52-week low of $2.01.