Company: SINT
Filing Date: 2025-05-15
Form Type: 10-Q
Source: 0001641172-25-010496
Chunk: 46

Company: Sintx Technologies, Inc.
Filing Date: 2025-05-15
Form: 10-Q
Item: Item 2
Chunk 46
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 derivative expense).

22

On February 25, 2021, we entered into an Equity Distribution Agreement
( the “ATM Agreement”) with Maxim Group LLC (the “Agent”) as sales agent, as amended on January 10, 2023 and October
12, 2023, pursuant to which we could offer and sell shares of our common stock, par value $0.01 per share (the “Shares”),
initially up to an aggregate offering price of $15,000,000, from time to time in an at-the-market public offering. On March 22, 2024,
we suspended sales under the ATM Agreement and terminated the continuous offering. On July 11, 2024, we filed a Prospectus Supplement
with the SEC adjusting the amount available for sale under the ATM Agreement to $3.1 million and shortly thereafter begin offering and
selling Shares under the ATM Agreement to the public. During the year ended December 31, 2024, 602,357 Shares were sold under the ATM
Agreement for gross proceeds of approximately $3.7 million. Because we are subject to General Instruction I.B.6 of Form S-3, we are restricted
from selling securities in a public primary offering with a value exceeding one-third of our public float (the market value of our common
stock held by our non-affiliates) in any 12-month period so long as our public float remains below $75.0 million. As of December 31, 2024,
there was no capacity to offer and sell Shares under the ATM Agreement.

On February 19, 2025, we entered into an Entity Acquisition
Agreement (the “Agreement”) with Tethon Corporation (“Tethon”), pursuant to which the Company sold to Tethon all
of the issued and outstanding shares of Technology Assessment and Transfer, Inc. (“TA&T”), a wholly owned subsidiary of
the Company, in exchange for the assumption by Tethon of the outstanding liabilities of TA&T (the “Sale”).

Based on the decrease in expenditures from the reduction
in force and the increase in cash on February 20, 2025, SINTX management has determined that there is no uncertainty
of the Company’s ability to continue as a going concern through at least March 31, 2026.

Cash Flows

The following table summarizes, for the periods indicated,
cash flows from operating, investing and financing activities (in thousands) – unaud