Shares of SINTX Technologies Inc (NASDAQ:SINT) are trading lower Wednesday afternoon following the company’s disclosure of a Nasdaq non-compliance notice. Here’s what investors need to know.
- SINTX Technologies stock is among today’s weakest performers. What’s pressuring SINT stock?
SINT Stock Drops Following Nasdaq Non-Compliance Notice
According to a Form 8-K filed on Wednesday, SINTX received a letter from the Nasdaq Stock Market on May 22. The notice indicated that the company is out of compliance with Nasdaq Listing Rule 5550(b)(1), which requires a minimum of $2.5 million in stockholders’ equity.
As of March 31, SINTX reported stockholders’ equity of approximately $904,000. Furthermore, it fails alternative standards regarding market value or net income from continuing operations. SINTX has until July 6 to submit a plan to regain compliance. If accepted, Nasdaq may grant the company up to a 180-day extension to evidence compliance.
SINTX intends to file a compliance plan and is actively pursuing financing initiatives, including current discussions for a potential equity financing transaction.
SINT Shares Fall on Wednesday
SINT Stock Price Activity: SINTX Technologies shares closed down 4.53% at $2.32 on Wednesday, according to Benzinga Pro data.
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