Silynxcom Ltd. Announces Pricing of Initial Public Offering
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Insights
The initial public offering (IPO) of Silynxcom Ltd. represents a significant milestone for the company, indicating a transition from private to public ownership. The pricing of the IPO at $4.00 per share for a total offering of $5 million, before expenses, is a strategic move that will have implications for the company's capital structure and future investment attractiveness. The underwriters' option to purchase additional shares to cover over-allotments is a common practice that provides a cushion against market volatility post-IPO.
Investors will be assessing the company's valuation in comparison to its industry peers, taking into account Silynxcom's market position, product portfolio and growth prospects. The use of proceeds for marketing, business development and R&D is a positive indicator of the company's commitment to growth and expansion. However, the effectiveness of these investments in generating future revenue streams will be a critical factor in the long-term success of the company's stock.
The tactical communication headset market is characterized by rapid technological advancements and a high degree of competition. Silynxcom's focus on ruggedized devices positions it within a niche market that caters to military, law enforcement and outdoor enthusiasts. The company's decision to allocate IPO proceeds towards marketing and business development is essential to capture market share and establish brand recognition.
Furthermore, the investment in research and development is crucial for maintaining a competitive edge. Continuous innovation is key in this industry to meet the evolving needs of end-users and to stay ahead of competitors. The success of these initiatives can be measured by the company's ability to secure contracts and partnerships, expand its product line and enter new markets.
The registration statement on Form F-1 with the SEC is a critical legal step in the IPO process, providing transparency and detailed information about the company's financials, risks and strategy. Compliance with SEC regulations is mandatory for public companies and instills investor confidence. The legal stipulation that the offering is only made by means of a prospectus ensures that all investors have access to the same information, which is vital for maintaining a fair and orderly market.
It is also important to note the legal disclaimer that the press release does not constitute an offer to sell or a solicitation of an offer to buy. Such disclaimers are standard practice to avoid contravening securities law, particularly regarding the sale of securities prior to registration or qualification under the applicable securities laws of any state or jurisdiction.
Netanya, Israel, Jan. 11, 2024 (GLOBE NEWSWIRE) -- Silynxcom Ltd. (the “Company” or “Silynxcom”) (NYSE American: SYNX), a manufacturer and developer of ruggedized tactical communication headset devices as well as other communication accessories, today announced the pricing of its initial public offering of 1,250,000 ordinary shares at a price to the public of
The Company intends to use the proceeds for marketing, business development, research and development, working capital and general corporate purposes.
The ordinary shares are expected to begin trading on the NYSE American on January 12, 2024 under the symbol “SYNX.” The offering is expected to close on January 17, 2024, subject to satisfaction of customary closing conditions.
ThinkEquity is acting as sole book-running manager for the offering.
A registration statement on Form F-1 (File No. 333-275195) relating to this offering was filed with the Securities and Exchange Commission (“SEC”) and became effective on January 11, 2024. This offering is being made only by means of a prospectus. Copies of the final prospectus, when available, may be obtained from ThinkEquity, 17 State Street, 41st Floor, New York, New York 10004. The final prospectus will be filed with the SEC and will be available on the SEC’s website located at http://www.sec.gov.
This press release shall not constitute an offer to sell or a solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
About Silynxcom Ltd.
For over a decade, the Company been developing, manufacturing, marketing, and selling ruggedized tactical communication headset devices as well as other communication accessories, all of which have been field-tested and combat-proven. The Company’s in-ear headset devices, or In-Ear Headsets, are used in combat, the battlefield, riot control, demonstrations and weapons training courses. The In-Ear Headsets seamlessly integrate with third party manufacturers of professional-grade ruggedized radios that are used by soldiers in combat or by police officers. The Company’s In-Ear Headsets also fit tightly into the protective gear to enable users to speak and hear clearly and precisely while they are protected from the hazardous sounds of combat, riots or dangerous situations. The sleek, lightweight, In-Ear Headsets include active sound protection to eliminate unsafe sounds, while maintaining ambient environmental awareness, giving their customers 360° situational awareness. The Company works closely with its customers and seek to improve the functionality and quality of our products based on actual feedback from soldiers and police officers “in the field.” The Company’s headset devices are compatible and easily integrate with various communication equipment devices currently being used by tens of thousands of military and law enforcement personnel in leading military and law enforcement units around the globe. The Company sells its In-Ear Headsets and communication accessories directly to military forces, police and other law enforcement units around the world. The Company also deals with specialized networks of local distributors in each locale in which it operates and has developed key strategic partnerships with radio equipment manufacturers.
Forward Looking Statements
This press release contains “forward-looking statements” that are subject to substantial risks and uncertainties. All statements, other than statements of historical fact, contained in this press release are forward-looking statements, including, among other things, statements related to the offering, the expected proceeds from such offering, the expected use of proceeds from such offering, the expected start of trading on the NYSE American and the expected closing date of the offering. Forward-looking statements contained in this press release may be identified by the use of words such as “anticipate,” “believe,” “contemplate,” “could,” “estimate,” “expect,” “intend,” “seek,” “may,” “might,” “plan,” “potential,” “predict,” “project,” “target,” “aim,” “should,” "will” “would,” or the negative of these words or other similar expressions, although not all forward-looking statements contain these words. Forward-looking statements are based on Silynxcom’s current expectations and are subject to inherent uncertainties, risks and assumptions that are difficult to predict. Further, certain forward-looking statements are based on assumptions as to future events that may not prove to be accurate. These and other risks and uncertainties are described more fully in the section titled “Risk Factors” in the final prospectus related to the public offering filed with the Securities and Exchange Commission. Forward-looking statements contained in this announcement are made as of this date, and Silynxcom undertakes no duty to update such information except as required under applicable law.
Contact Inforatmion
Klein Nir
Tel: +972-9-8658370
FAQ
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