Sysorex Global Holdings increases proposed IPO range and decreases shares

Sysorex Global Holdings, which provides a variety of IT infrastructure solutions to enterprises and governments, raised proposed price range and decreased shares to be offered for its upcoming IPO on Monday. The Santa Clara, CA-based company now plans to raise $20 million by offering 3.6 million shares (5% insider) at a price range of $5 to $6. The company had previously filed to offer 4.0 million shares at $5 per share. 

Sysorex Global Holdings, which was founded in 1999 and booked $35 million in sales for the 12 months ended September 30, 2013, plans to list on the NASDAQ under the symbol SYRX. Wellington Shields & Co and Dougherty & Company are the joint bookrunners on the deal.