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