Tiger Brokers

BUZZ-Silynxcom plunges on deep-discounted stock offering

Reuters
Apr 01
BUZZ-Silynxcom plunges on deep-discounted stock offering

** Shares of communications equipment firm Silynxcom Ltd SYNX.N down 39.5% premarket to $2.19, over 5-mth low, after follow-on priced

** Israel-headquartered maker of ruggedized tactical communication headset devices and accessories late Mon sold 1.29 mln shares at $2.25 for $2.9 mln raise

** Offering price represents 37.8% discount to stock's last close

** Co plans to use net offering proceeds for working capital and general purposes

** As of Mar 26, co had ~5.3 mln shares outstanding, per the SEC prospectus filing

** Co went public after Jan 2024 IPO of 1.25 mln shares priced at $4

** ThinkEquity sole bookrunner for the latest offering

(Lance Tupper is a Reuters market analyst. The views expressed are his own)

((lance.tupper@tr.com 1-646-279-6380))

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