Sintx Technologies (NASDAQ:SINT) stock is down on Monday as investors wait for more information about the medical device company’s proposed public offering.
Sintx Technologies first announced its plans for a proposed public offering of SINT shares on Friday. It has yet to announce the pricing of the offering but it likely won’t be long before it does so.
Typically, companies announce proposed public offerings shortly before pricing them. That means investors might see more details about this SINT stock offering this week. However, Sintx Technologies does note that the offering is dependent on market conditions.
What We Know About the SINT Stock Offering
Sintx Technologies has said that any funds raised from the public offering would go toward working capital and general corporate purposes. The company also says that Maxim Group LLC is the sole placement agent for the proposed offering.
Details that are still missing include the size of the public offering. Investors will have to wait to learn how many shares of SINT stock the company plans to include in this offering.
SINT stock is down 30.6% as of Monday morning. This comes as some 4.4 million shares trade hands. That’s already above its daily average trading volume of about 2.4 million shares. It’s also worth mentioning that SINT was down 76.3% year-to-date as of Friday’s close.
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On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
