IT solutions provider Sysorex Global Holdings sets terms for $20 million IPO
Sysorex Global Holdings, which provides a variety of IT infrastructure solutions to enterprises and governments, announced terms for its IPO on Wednesday. The Santa Clara, CA-based company plans to raise $20 million by offering 4.0 million shares at $5 per share. At the midpoint of the proposed range, Sysorex Global Holdings would command a market value of $159 million. The company currently trades on the OTC markets under the ticker SYRX.
Sysorex Global Holdings, which was founded in 1999 and booked $22 million in sales for the 12 months ended June 30, 2013, has yet to announce an exchange or a ticker. Wellington Shields & Co is the sole bookrunner on the deal.
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