Company: SINT
Filing Date: 2025-06-27
Form Type: 8-K
Source: 0001641172-25-016891
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Company: Sintx Technologies, Inc.
Filing Date: 2025-06-27
Form: 8-K
Item: Item 1.01
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Item
1.01 Entry into a Material Definitive Agreement

Asset
Purchase Agreement

On
June 23, 2025, SINTX Technologies, Inc., a Delaware corporation (the “ Company”), entered into an Asset Purchase Agreement
(the “ Purchase Agreement”) with Sinaptic Surgical, LLC (“ Sinaptic Surgical”) and Sinaptic Holdings, LLC (“ Holdings”),
pursuant to which the Company agreed to purchase substantially all the assets and assume certain liabilities of Sinaptic Surgical (the
“ Asset Purchase”). As consideration for the purchase of the assets under the Purchase Agreement, the Company agreed to issue
to Sinaptic Surgical warrants to purchase 325,000 shares of the Company’s common stock (the “ Warrants”). The Warrants
expire five years from the date of issue and have an exercise price of $6.30 per share. The Warrants will become exercisable upon
the achievement of the following milestones prior to the expiration of the Warrants: (i) 65,000 shares shall become exercisable upon
receipt of 510k clearance with respect to a foot and ankle interbody implant developed from the purchased assets, (ii) 65,000 shares
shall become exercisable upon the Company’s achievement of $2.5 million in aggregate cumulative revenue following the closing,
(iii) 65,000 shares shall become exercisable upon the Company’s achievement of $5.0 million in aggregate cumulative revenue following
the closing, (iv) 65,000 shares shall become exercisable upon the Company’s achievement of $10.0 million in aggregate cumulative
revenue following the closing, and (v) 65,000 shares shall become exercisable upon the Company’s achievement of $15.0 million in
aggregate cumulative revenue following the closing. Additionally, after achieving $15 million in aggregate net revenue between
the closing date and the fourth (4th) anniversary of the closing date, Sinaptic Holding will receive a 5% royalty on net revenue from
sales of certain foot and ankle implants for a two (2) year period. The Asset Purchase is subject to customary closing conditions.

In
connection with the Asset Purchase, Sinaptic Surgical agreed, under the Purchase Agreement, to purchase 216,450 shares of the Company’s
common stock at a purchase price of $3.465 per share (the “ Purchased Shares”) in a private placement. Under the Purchase
Agreement, the Company has also agreed to file a resale registration statement covering the resale of the