Syra Health Secures $2.1 Million Through Public Stock Offering

Syra Health Completes Public Offering of $2.1 Million

Syra Health Corp. (NASDAQ: SYRA), a leader in the healthcare technology sector, has recently announced the successful pricing of a public offering of its Class A common stock. With a total of 3,203,125 shares being offered alongside Series A and Series B warrants, the offering price is set at $0.64 per share. These warrants are designed to provide additional flexibility for investors and can significantly enhance the financial resources available to the company.

Details of the Offering

The offering includes both Series A and Series B warrants, each with an exercise price of $0.64. The Series A warrants will be valid for eighteen months, while the Series B warrants are set to expire five years after their issuance. The company anticipates that the closing of this offering will take place shortly, subject to customary closing conditions.

Expected Financial Impact

Syra Health expects to gain approximately $2.1 million in gross proceeds from the offering. This amount, however, will be subject to deduction for placement agent fees and other associated expenses. If the Series Warrants are fully exercised, the company could see an additional $4.1 million, significantly boosting its financial position. The proceeds will primarily be allocated towards enhancing marketing initiatives, software application development, and advancing research and development projects.

Strategic Use of Proceeds

With the increased capital from this offering, Syra Health aims to bolster its capability to deliver innovative healthcare solutions. The company is focused on areas such as behavioral health, digital health, and population health—domains that are becoming increasingly vital in today’s healthcare landscape. This strategic investment will help Syra Health enhance access to care while ensuring services are affordable and effective.

Commitment to Growth

Syra Health is committed to not just sustaining but growing its presence within the healthcare market. By leveraging the additional funding, the company plans to expand its services to a wider audience, ensuring that various institutions, including academic organizations and government entities, can benefit from its technology and services.

About Syra Health

Syra Health specializes in healthcare technology, providing innovative solutions designed for the improvement of health outcomes. The company believes in the power of effective treatment strategies that are innovative and practical. By serving a broad range of clients, including payers and life sciences organizations, Syra Health is committed to enhancing the overall healthcare experience.

Frequently Asked Questions

What is the amount raised in the public offering by Syra Health?

Syra Health announced a public offering raising $2.1 million through the issuance of their Class A common stock and associated warrants.

How does this offering impact Syra Health's future plans?

The funds raised will support Syra Health's marketing, application development, and research initiatives, paving the way for growth and enhanced services.

What are Series A and B warrants?

Series A and B warrants allow investors to purchase shares at a specified price within certain time frames, adding potential for additional investment for Syra Health.

What strategies is Syra Health employing to grow?

Syra Health intends to use the proceeds from the offering to expand its reach in behavioral and digital health, enhancing service outreach and affordability.

How can I learn more about Syra Health?

For more information, visit Syra Health's website to explore their innovative healthcare solutions and technology offerings.

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