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Netanya, Israel, April 02, 2025 (GLOBE NEWSWIRE) -- Silynxcom Ltd. (NYSE American: SYNX) (“Silynxcom” or the “Company”), a manufacturer and developer of ruggedized tactical communication headset devices as well as other communication accessories, today announced the closing of its previously announced underwritten public offering of 1,290,000 ordinary shares at a public offering price of $2.25 per share, for gross proceeds of approximately $2.9 million, before deducting underwriting discounts and offering expenses. All of the ordinary shares were offered by the Company. In addition, Silynxcom has granted the underwriters a 45-day option to purchase up to an additional 193,500 ordinary shares to cover over-allotments, if any, at the public offering price, less underwriting discounts and commissions.
The Company intends to use the net proceeds from the offering primarily for working capital and general corporate purposes.
ThinkEquity acted as sole book-running manager for the offering.
The offering is being made pursuant to an effective shelf registration statement on Form F-3 (File No. 333-285443), including a base prospectus, that has been filed with the U.S. Securities and Exchange Commission (the “SEC”) on February 28, 2025, and declared effective on March 7, 2025. The final prospectus supplement relating to the offering was filed with the SEC on April 2, 2025, and is available on the SEC's website at http://www.sec.gov. Copies of the final prospectus supplement and the accompanying prospectus relating to the offering may be obtained from ThinkEquity, 17 State Street, 41st Floor, New York, New York 10004.
This press release shall not constitute an offer to sell or the solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state or other jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or other jurisdiction.
About Silynxcom Ltd.
Silynxcom Ltd. develops, manufactures, markets, and sells 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, weapons training courses, and on the factory floor. 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 in leading military and law enforcements units. 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 the Company's products based on actual feedback from soldiers and police officers "in the field." The Company sells its In-Ear Headsets and communication accessories directly to military forces, police and other law enforcement units. 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.