Form 8-K - Current report

 

 

 

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

FORM 8-K

 

CURRENT REPORT

 

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

 

Date of Report (Date of earliest event reported): July 31, 2024

 

SINTX Technologies, Inc.

(Exact name of registrant as specified in its charter)

 

Delaware		001-33624		84-1375299
(State or other jurisdiction of incorporation)		(Commission File Number)		(IRS Employer Identification No.)

 

1885 West 2100 South

Salt Lake City, UT 84119

(Address of principal executive offices, including Zip Code)

 

Registrant’s telephone number, including area code: [phone]

 

 

(Former name or former address, if changed since last report)

 

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

 

☐	Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
☐	Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
☐	Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
☐	Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

 

Securities registered pursuant to Section 12(b) of the Act:

 

Title of each class:		Trading Symbol(s):		Name of each exchange on which registered:
Common Stock, par value $0.01 per share		SINT		The NASDAQ Capital Market

 

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§ 230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§ 240.12b-2 of this chapter).

 

Emerging growth company ☐

 

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

 

 

 

 

 

Item 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.

 

On July 31, 2024, the Board of Directors of SINTX Technologies, Inc. (the “Company”) appointed Eric K. Olson as Chief Executive Officer and President with such appointment effective August 1, 2024.

 

Prior to being appointed as Chief Executive Officer and President, from June 2022 to August 2024, Mr. Olson, age 61, served as Founder, Chief Executive Officer and Board Member of Foresite Innovations, LLC, a private healthcare innovation and development holding company. From January 2016 to June 2022, Mr. Olson was the founder, President, Chief Executive Officer and Board Member of Predictive Biotech, Inc., which developed the first human stem cell and tissue product (HCT/P) derived from the perinatal tissue. Prior to joining Predictive Biotech, Mr. Olson was the President and Chief Executive Officer for Cupertino based Skeletal Kinetics from December 2014 to January 2016. This Colson & Associates company developed and commercialized synthetic bone substitute products for Orthopedic and Spinal applications. From February 2012 to September 2014, Mr. Olson served as Chief Executive Officer and President and a member of the board of directors of SINTX Technologies (formerly Amedica Corporation). Mr. Olson began his career with London-based Smith & Nephew and has worked in Senior Sales and Marketing leadership roles with Johnson & Johnson, Medtronic and Wright Medical. He earned Bachelor of Science Degrees in Behavioral Science and Health Administration from The University of Utah and completed a Master’s level Hospital Administration Internship Program at the same institution.

 

There are no family relationships between Mr. Olson and any director or other executive officer of the Company. There are no transactions to which the Company was or is a participant and in which Mr. Olson has a material interest subject to disclosure under Item 404(a) of Regulation S-K.

 

There are no arrangements or understandings between Mr. Olson and any other person pursuant to which he was selected as an officer of the Company.

 

In connection with Mr. Olson’s appointment, B. Sonny Bal retired from his position as Chief Executive Officer and President and now serves as Chairman of the Board.

 

Item 8.01 Other Events.

 

On August 6, 2024, the Company issued a press release announcing the appointment of Eric K. Olson as Chief Executive Officer. A copy of the press release is attached as Exhibit 99.1 to this Current Report on Form 8-K and is hereby incorporated by reference herein.

 

Item 9.01 Financial Statements and Exhibits.

 

Exhibit No.		Description
99.1		Press release dated August 6, 2024.
104		Cover Page Interactive Data File (embedded within the Inline XBRL document)

 

 

 

SIGNATURES

 

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

 

			SINTX Technologies, Inc.
Date:	August 6, 2024		By:	/s/ Eric K. Olson
				Eric K. Olson
				Chief Executive Officer

 

 

 

Exhibit 99.1

 

 

SINTX Technologies Announces Appointment of Eric K. Olson as Chief Executive Officer

 

Salt Lake City, Utah. August 6, 2024 - SINTX Technologies, Inc. (NASDAQ: SINT) (“SINTX” or the “Company”) today announced that its Board of Directors has appointed Eric K. Olson to succeed B. Sonny Bal, MD as the Company’s Chief Executive Officer and President.

 

Mr. Olson’s appointment follows the Company’s recent announcement that Dr. Bal was retiring from his position as Chief Executive Officer and President effective upon the appointment of a new chief executive officer and president by the Board of Directors. Dr. Bal will continue to serve as Chairman of the Board on the Company’s Board of Directors.

 

For over 30 years, Mr. Olson has been a serial founder and entrepreneur in a broad range of medical device, diagnostic, biologic and biomaterial companies. Most recently Mr. Olson was the Founder, Chief Executive Officer and Board Member of Foresite Innovations, LLC, a private healthcare innovation and development holding company. He is accomplished in leading and motivating all levels of management in a variety of company sizes and industries both domestically and internationally. Mr. Olson previously served as CEO, President, and as a member of the Board of Directors for the Company while it was known as “Amedica Corporation.” Mr. Olson played a key role in the Company’s 2014 initial public offering and becoming listed on the NASDAQ Capital Market. Mr. Olson has served in senior executive roles of President, Chief Executive Officer and as a member of the Board Directors.

 

“On behalf of SINTX’s board, I am extremely excited that Eric has agreed to serve as our next CEO and President,” said Dr Bal. “Eric brings many years of experience and leadership qualities that will be crucial in guiding the Company in the coming years.”

 

“We remain focused on accelerating development and commercialization of the Company’s technologies and looking for new opportunities that will enhance shareholder value,” stated Mr. Olson.

 

The SINTX Board of Directors also designated Gregg Honigblum as Board Advisor. Mr. Honigblum has over 35 years’ experience as a financial advisor and is a Managing Director for FNEX Securities (https://fnex.com/people/gregg-honigblum/). From 2003 to 2013, Mr. Honigblum was responsible for raising the Company’s private equity funding prior to its IPO in 2014. From, 2006 to 2013, Mr. Honigblum was a member of the Board of Directors of SINTX Technologies (formerly Amedica Corporation).

 

 

 

About SINTX Technologies, Inc.

 

SINTX Technologies is an advanced ceramics company that develops and commercializes materials, components, and technologies for medical and technical applications. SINTX is a global leader in the research, development, and manufacturing of silicon nitride, and its products have been implanted in humans since 2008. Over the past several years, SINTX has utilized strategic acquisitions and alliances to enter into new markets. The Company has manufacturing and R&D facilities in Utah and Maryland.

 

For more information on SINTX Technologies or its materials platform, visit www.sintx.com.

 

Forward-Looking Statements

 

This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 (“PSLRA”) that are subject to a number of risks and uncertainties. Readers are cautioned not to place undue reliance on the forward-looking statements, which speak only as of the date on which they are made and reflect management’s current estimates, projections, expectations and beliefs. A discussion of risks and uncertainties can be found in SINTX’s Risk Factors disclosure in its Annual Report on Form 10-K, filed with the SEC on March 27, 2024, and in SINTX’s other filings with the SEC. SINTX disclaims any obligation to update any forward-looking statements. SINTX undertakes no obligation to publicly revise or update the forward-looking statements to reflect events or circumstances that arise after the date of this report.

 

Business and Media Inquiries for SINTX:

 

SINTX Technologies
801.839.3502
[e-mail]

 

 

Cover	Jul. 31, 2024
Cover [Abstract]
Document Type	8-K
Amendment Flag	false
Document Period End Date	Jul. 31, 2024
Entity File Number	001-33624
Entity Registrant Name	SINTX Technologies, Inc.
Entity Central Index Key	0001269026
Entity Tax Identification Number	84-1375299
Entity Incorporation, State or Country Code	DE
Entity Address, Address Line One	1885 West 2100 South
Entity Address, City or Town	Salt Lake City
Entity Address, State or Province	UT
Entity Address, Postal Zip Code	84119
City Area Code	(801)
Local Phone Number	839-3500
Written Communications	false
Soliciting Material	false
Pre-commencement Tender Offer	false
Pre-commencement Issuer Tender Offer	false
Title of 12(b) Security	Common Stock, par value $0.01 per share
Trading Symbol	SINT
Security Exchange Name	NASDAQ
Entity Emerging Growth Company	false

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