SiNtx Technologies, Inc. SINT is experiencing volatility on Wednesday after the company made significant announcements, including a contract with the U.S. Army and a $4 million stock offering.
Key Highlights:
After the market closed on Tuesday, SinTx Technologies revealed that it had entered into a collaborative research and development agreement with the U.S. Army Combat Capabilities Development Command Army Research Laboratory in the realms of ceramic additive manufacturing (ceramic 3D printing) and ceramic matrix composites.
“We have a highly skilled team of engineers and technicians here in Maryland, all of whom are instrumental in pushing this cutting-edge work forward. I look forward to optimizing our offerings in these markets while also working with DEVCOM ARL to build both teams’ knowledge and capabilities in advanced technologies,” said Ann Kutsch, general manager of SinTx’s Maryland site.
Before the market opened on Wednesday, SinTx announced the pricing of its public offering of 16 million units at 25 cents per share. Gross proceeds are expected to be approximately $4 million, and the offering is expected to close on Feb. 2, subject to customary closing conditions.
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SINT Price Action: According to Benzinga Pro, SinTx Technologies shares are down 19.9% at around 19 cents at the time of publication.
Image: Dmitriy from Pixabay
