By Stephen Nakrosis
Shares of Silynxcom were lower in the after-hours market Monday, following news the maker of communication accessories plans to sell shares in an underwritten public offering.
All the shares in the offering will be sold by the company.
Following news of the offering, the company's shares were trading 20% lower, at $2.87. The stock ended the day's regular session with a 3.9% loss, closing at $3.62.
Proceeds from the offering will be primarily used for working capital and general corporate purposes, Silynxcom said.
The company makes and sells ruggedized tactical communication headset devices as well as other communication accessories, it said.
Write to Stephen Nakrosis at stephen.nakrosis@wsj.com
(END) Dow Jones Newswires
March 31, 2025 18:13 ET (22:13 GMT)
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