Why SiNtx Technologies Stock Is Trading 45% Lower

SINtx Technologies Inc SINT shares are trading lower by 44.89% to $3.40 Wednesday morning after the company announced pricing of a $12 million public offering.

What Else?

The company says pricing of its public offering of 2,150,000 units, with each unit consisting of one share of its common stock, or one pre-funded warrant to purchase one share of its common stock will each be sold at $5.60.

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Gross proceeds, before deducting placement agent fees and other offering expenses, are expected to be approximately $12.0 million.

The offering is expected to close on February 10, subject to customary closing conditions.

According to data from Benzinga Pro, SiNtx Technologies has a 52-week high of $70.80 and a 52-week low of $3.23.