Netanya, Israel, Jan. 17, 2024 (GLOBE NEWSWIRE) -- Silynxcom Ltd. (NYSE:SYNX) ("Silynxcom" or the "Company"), a manufacturer and developer of ruggedized tactical communication headset devices as well as other communication accessories, today announced the closing of its initial public offering of 1,250,000 ordinary shares at a public offering price of $4.00 per share, for gross proceeds of $5,000,000, before deducting underwriting discounts and before offering expenses. In addition, the Company has granted the underwriter a 45-day option to purchase up to an additional 187,500 ordinary shares to cover over-allotments at the initial public offering price, less the underwriting discount.
The Company intends to use the proceeds for marketing, business development, research and development, working capital and general corporate purposes.
ThinkEquity acted as sole book-running manager for the offering.
A registration statement on Form F-1 (File No. 333-275195) relating to the offering was filed with the Securities and Exchange Commission ("SEC") and became effective on January 11, 2024. This offering has been made only by means of a prospectus. An electronic copy of the final prospectus disclosing the final terms of the offering has been filed with the SEC and copies of the final prospectus may be obtained from ThinkEquity, 17 State Street, 41st Floor, New York, New York 10004.
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