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Syra Health Reduces Proposed IPO to $6 Million

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Syra Health Reduces Proposed IPO to $6 Million

Indiana-based healthcare services provider, Syra Health (OTC:SYRA), has adjusted its initial public offering (IPO) plans and now aims to raise $6 million.

In its recent filing with the Securities and Exchange Commission (SEC), Syra Health announced its intention to offer 1.5 million units at a price of $4.125 per unit. Each unit will consist of one share and one warrant to purchase an additional share at $6.50. Underwriters will have the option to purchase up to an additional 225,000 units within 45 days to cover any over-allotments.

Previously, Syra Health had stated in a July filing that it planned to offer 2 million units at the same price per unit.

The company is seeking to list its shares on Nasdaq under the symbol SYRA, with Kingswood serving as the lead bookrunner.

Overview of Syra Health:

Syra Health is a healthcare services provider based in Indiana. The company offers staffing, educational services, and analytics for the healthcare sector. Additionally, Syra Health is working on developing a telehealth app and service called Syrenity, which focuses on mental health.

Despite its operations, Syra Health has been experiencing financial difficulties, reporting a net loss of $1.6 million on revenue of $2.2 million for the six-month period ending June 30.

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