MU - Syra Health stock tumbles following upsized $7M IPO
2023-09-29 15:53:23 ET
Syra Health ( OTC:SYRA ) stock tumbled 26% following the healthcare services provider’s upsized $7M IPO.
Shares of Syra opened at $3.50, reaching a high of $3.70 and a low of $3. The stock recently sold at $3.05 at around 3:45 p.m. ET.
Syra priced 1.62M units at $4.125 per unit. Each unit consisted of one share plus one warrant to buy one share at the exercise price of $6.50.
Underwriters were granted a 45-day option to buy up to 242,250K additional units to cover over-allotments. Kingswood is serving as sole bookrunner.
Earlier this month, Syra said it was looking to raise around $6M by offering 1.5M units at $4.125 apiece.
Based in Indiana, Syra provides staffing, educational services and analytics for the healthcare sector. The company is also developing a telehealth app and service focused on mental health called Syrenity.
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Syra Health stock tumbles following upsized $7M IPO