: Israeli communications headset maker Silynxcom files for New York IPO

Silynxcom Ltd., an Israeli maker of headsets for military, law enforcement, and homeland security agencies, filed for an initial public offering on Friday with plans to list on the New York Stock Exchange under the ticker ‘SYNX.’ The company is planning to offer 2 million share priced at $4 to $6 each. The company would raise $12 million at a valuation of $36 million at the top of that range. ThinkEquity is sole underwriter on the deal. “For over a decade, we have 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 says in its filing documents. Clients include the Israeli Defence Forces. The company had a loss of $2.3 million in the first half of the year, after income of $1.0 million in the year-earlier period. Revenue rose to $3.1 million from $1.9 million. Proceeds of the deal will be used for research & development, marketing and working capital. The Renaissance IPO ETF IPO has gained 18.6% in the year to date, while the S&P 500 SPX has gained 7.3%.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.