Silynxcom Prices IPO Of 1.25 Mln Shares At $4.00/shr

(RTTNews) - Silynxcom Ltd. (SYNX), a manufacturer and developer of ruggedized tactical communication headset devices as well as other communication accessories, said it priced its initial public offering of 1.25 million ordinary shares at a price to the public of $4.00 per share, for gross proceeds of $5 million before deducting underwriting discounts and offering expenses.

In addition, Silynxcom has granted the underwriters a 45-day option to purchase up to an additional 187,500 ordinary shares to cover over-allotments at the public offering price, less the underwriting discount.

The company plans to use the proceeds for marketing, business development, research and development, working capital and general corporate purposes.

The ordinary shares are expected to begin trading on the NYSE American on January 12, 2024 under the symbol "SYNX." The offering is expected to close on January 17, 2024.