The IPO Buzz: Israel’s Silynxcom Ltd. (SYNX) Prices Upsized IPO at $4.00 – Low End

Israeli military headset manufacturer Silynxcom Ltd. (SYNX) priced its upsized IPO of 1.25 million shares at $4.00 – the low end of its range – to raise $5.0 million on Thursday night, Jan. 11, 2024, The stock is expected to start trading today – Friday, Jan. 12, 2024 – on the NYSE – American Exchange. Silynxcom is the third IPO to get done this week. The Israeli headset company rolled onto the IPO runway behind Smith Douglas Homes Corp. (SDHC), the Georgia homebuilder, and Roma Green Finance Ltd. (ROMA), a Hong Kong-based ESG services provider. Bankers raised $178.81 million from these three IPOs during the first full week of January 2024. The Israeli IPO’s size was increased at pricing by 175,000 shares to 1.25 million shares – up from the original specs of 1.08 million shares (1,075,000 shares) in the prospectus – on a price range of $4.00 to $6.00. ThinkEquity was the sole book-runner. Headsets for Combat Silynxcom Ltd., based in Netanya, Israel, designs and makes in-ear headsets used in combat, riot control and weapons training courses. The company was founded in 2005. Its in-ear headsets “seamlessly integrate” with professional rugged radios used by soldiers in combat or police officers in riot situations, the prospectus says. Israel Defense Forces and police departments in Israel have ordered more than $4 million worth of equipment, according to the prospectus. Silynxcom Ltd. reported a net loss of $1.54 million on revenue of $8.38 million for the 12 months that ended June 30, 2023. (For more information about these companies, please check the IPO Calendar and the individual IPO Profiles found on IPOScoop.com’s website.) Note: Never trade on proposed symbols. They have been known to change and you might buy something on the OTC Bulletin Board. To see what time the NASDAQ IPOs are expected to trade, please log in to: NASDAQTrader.com then scroll down to IPO Message. Disclosure: Nobody on the IPOScoop.com staff has a position in any stocks mentioned above, nor do they trade or invest in IPOs. The IPOScoop.com staff does not issue advice, recommendations or opinions. Disclaimer: A SCOOP Rating (Wall Street Consensus of Opening-day Premiums) is a general consensus taken, at press time, from Wall Street and investment professionals concerning how well an IPO might perform when it starts trading. The SCOOP Rating does not reflect the opinions of anyone associated with IPOScoop.com. The SCOOP ratings should not be taken as investment advice. The rating merely reflects the opinion of the professionals at the time of publication and is subject to last-minute changes due to market conditions, changes in a specific offering and other factors, such as changes in the proposed offering terms and the shifting of investor interest in the IPO. The information offered is taken from sources we believe to be reliable, but we cannot guarantee the accuracy.