SCHEDULE: Sinaptic Entities Disclose 7.9% Passive Stake in Sintx Technologies, Holding Unvested Performance Warrants

Sinaptic Holdings, LLC and Sinaptic Surgical, LLC have reported a combined 7.9% passive beneficial ownership stake in Sintx Technologies, Inc., along with 325,000 unvested performance-based warrants.

Summary

• Sinaptic Holdings, LLC and Sinaptic Surgical, LLC (collectively, "Reporting Persons") have filed a Schedule 13G indicating beneficial ownership of Sintx Technologies, Inc. common stock.
• The Reporting Persons collectively beneficially own 216,450 shares of Sintx Technologies, Inc. Common Stock, representing 7.9% of the class outstanding.
• This percentage is calculated based on an aggregate of 2,725,156 shares of Common Stock outstanding, which includes 2,508,706 shares reported by Sintx Technologies as of May 13, 2025, plus the 216,450 shares owned by Sinaptic Surgical.
• Sinaptic Surgical, LLC is the record holder of these shares, and Sinaptic Holdings, LLC, as the sole member and manager of Sinaptic Surgical, LLC, is deemed to have beneficial ownership.
• Additionally, the Reporting Persons hold 325,000 unvested warrants to purchase shares of Common Stock. These warrants will vest, if at all, upon the achievement of certain performance goals over a four-year period starting July 1, 2025.
• The warrants are subject to a provision limiting exercise if it would cause the holder to beneficially own greater than 19.99% of Sintx Technologies.
• The shares underlying the unvested warrants are not included in the reported beneficial ownership amount as they are unvested and performance-based goals have not yet been achieved.
• The acquisition of these securities was not for the purpose of changing or influencing the control of Sintx Technologies.

Sentiment

Score: 5

Explanation: The document is a factual disclosure of beneficial ownership and does not contain information that would inherently lead to a positive or negative sentiment. It is a routine regulatory filing.

Positives

• A significant passive stake of 7.9% by Sinaptic Holdings, LLC and Sinaptic Surgical, LLC could signal confidence in Sintx Technologies, Inc.'s long-term prospects.
• The existence of 325,000 unvested warrants provides a potential future upside for the Reporting Persons if Sintx Technologies achieves specific performance goals, aligning their interests with the company's success.

Risks

• The 325,000 warrants held by the Reporting Persons are unvested and their vesting is contingent upon the achievement of unspecified performance goals, meaning their future value and exercise are not guaranteed.
• A provision limits the exercise of warrants if it would result in beneficial ownership exceeding 19.99% of Sintx Technologies, which could cap the Reporting Persons' potential future stake from these warrants.

Future Outlook

The 325,000 unvested warrants held by Sinaptic Surgical, LLC are set to vest over a four-year period starting July 1, 2025, contingent upon the achievement of specific performance goals.

Management Comments

• The reporting person's ownership consists of (i) 216,450 shares of common stock ("Common Stock") and (ii) 325,000 unvested warrants to purchase shares of Common Stock (the "Warrants") that will vest, if at all, upon the achievement of certain performance goals over a four-year period starting July 1, 2025 and subject to a provision limiting the holder's ability to exercise the Warrants if such exercise would cause the holder to beneficially own greater than 19.99% of the Issuer.
• Because the Warrants are unvested and subject to performance-based vesting goals, which have not yet been achieved, the shares of Common Stock underlying the Warrants are not deemed beneficially owned and have not been included in any of the amounts reported above.
• The securities referred to above were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under §§ 240.14a-11.

Industry Context

This filing is a standard disclosure of a passive ownership stake and does not provide specific details about broader industry trends or the competitive landscape for Sintx Technologies, Inc. It primarily focuses on the ownership structure of the Reporting Persons in the Issuer.

Stakeholder Impact

• Shareholders: Provides transparency regarding a significant passive ownership stake (7.9%) by Sinaptic Holdings, LLC and Sinaptic Surgical, LLC, and the existence of potential future equity from unvested warrants.

Next Steps

• Monitoring the vesting of 325,000 warrants held by Sinaptic Surgical, LLC, which are contingent on performance goals over a four-year period starting July 1, 2025.

Key Dates

Keywords

Sintx Technologies, Sinaptic Holdings, Sinaptic Surgical, beneficial ownership, Schedule 13G, common stock, warrants, passive investment, equity stake, SEC filing