Communications accessories maker Silynxcom Ltd, on Thursday, proposed the price for its initial public offering (IPO) of about 1.3 million shares for $4 per share to the public.
The company said the objective of the IPO is to use the capital proceeds for marketing, business development, research and development, working capital and general corporate purposes.
Along with the $5 million IPO of the company, Silynxcom said it has granted the underwriters a 45-day option to buy up to an additional 187,500 shares to cover over-allotments at the public offering price.
The shares of Silynxcom are expected to begin trading on the New York Stock Exchange (NYSE) on January 12, under the symbol ‘SYNX.’ Also, it is expected to close on January 17, subject to customary closing conditions.
The Netanya, Israel-based company is known to design and manufacture in-ear headset systems to meet the demands of tactical & industrial professionals. This in-ear headset is highly used in the military, police departments, industrial grounds and hunting.
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