Syra Health Prices $2.1 Mln Public Offering Of Shares, Warrants

(RTTNews) - Syra Health Corp. (SYRA), a healthcare technology firm, on Thursday announced the pricing of a public offering of 3.203 million class A shares and warrants.

This will allow the company to offer up to 3.203 million class A shares and series B warrants to purchase up to 3.203 class A shares at a combined price of $0.64 per share and accompanying warrants.

The series warrants will have an exercise price of $0.64 per share and will be exercisable immediately upon issuance.

The series A warrants will expire 18 months post-issuance and the series B warrants will expire on the fifth anniversary of the issuance.

The aggregate gross proceeds to the company from the offering are expected to be approximately $2.1 million.

The company expects potential additional gross proceeds of $4.1 million from the series warrants, if fully exercised on a cash basis.

The closing of the offering is expected to occur on or about September 13. Syra Health intends to use the net proceeds from the offering for marketing, sales, application development, research and development, general corporate, and other purposes.

SYRA was trading down by 49 percent at $0.408 in the pre-market trade on the Nasdaq.