By Colin Kellaher
Communications-headset maker Silynxcom has cut the size of its planned initial public offering to around 1.08 million shares from 2 million.
The Israel-based company on Wednesday said it still expects an IPO pricing of between $4 and $6 a share.
At the $5 midpoint of that range, Silynxcom said it expects net proceeds of about $4 million, or roughly $4.74 million if the underwriters exercise their option to buy an additional 161,250 shares.
The company said it would have nearly 5.24 million shares outstanding after the IPO, assuming the underwriters exercise their overallotment option, for a market capitalization of around $26.2 million at the $5-a-share pricing midpoint.
Silynxcom said it will apply to list its shares on the NYSE American under the symbol SYNX.
Write to Colin Kellaher at [email protected]
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