Syra Health Corp. Successfully Closes Upsized Initial Public Offering

Syra Health Corp., a healthcare consulting company focused on improving healthcare through innovative services and technology solutions, has announced the successful closing of its upsized initial public offering (IPO). The company raised approximately $6.7 million in gross proceeds from the offering, before deducting underwriting discounts and expenses.

The IPO involved the sale of 1,615,000 units at a public offering price of $4.125 per unit. Each unit consists of one share of Class A common stock and one warrant to purchase one additional share of Class A common stock at an exercise price of $6.50 per share. The shares and warrants were issued separately but purchased together in the IPO. Additionally, the underwriters have been granted a 45-day option to purchase up to 242,250 additional shares of Class A common stock and/or warrants to cover any over-allotments.

Syra Health’s Class A common stock began trading on The Nasdaq Capital Market on September 29, 2023, under the ticker symbol “SYRA.” The net proceeds from the IPO will be used for marketing and sales, product development, research and development, and other general corporate purposes.

Kingswood, a division of Kingswood Capital Partners, LLC, acted as the sole bookrunner for the IPO. Syra Health aims to become a valuable partner to government, payers, providers, life sciences organizations, and academic institutions by offering products and services in digital health, behavioral and mental health, population health management, health education, and healthcare workforce.

For more information about the IPO, interested parties can obtain a copy of the final prospectus from Kingswood or the Securities and Exchange Commission’s website.

About Syra Health Corp.
Syra Health Corp. is a healthcare consulting company dedicated to improving healthcare through innovative services and technology solutions. The company aims to be a valuable partner to various healthcare stakeholders by offering a range of products and services.

About Kingswood
Kingswood U.S. is a network of wealth management firms that provides investment banking, advisory services, comprehensive wealth management, and business-building services. With a reputation for being built by advisors for advisors, Kingswood combines the resources of a large financial services firm with the personalized touch of a boutique company.

Source: Syra Health Corp.