Siyata Mobile (NASDAQ: SYTA, SYTAW) (TSX.V: SIM), a leading global developer and provider of Push-to-Talk Over Cellular (“PTT/PoC”) systems for enterprise customers, announced that underwriters have partially exercised the over-allotment option outlined in SYTA’s U.S. initial public offering; that offering closed on Sept. 29, 2020. Consequently, Siyata has issued an additional 120,000 common shares in the capital of the company along with 266,000 additional common share purchase warrants, resulting in aggregate gross proceeds of $721,460. Siyata has announced that net proceeds from the offering will be earmarked for sales and marketing, growth capital, and research and development with any remaining funds going to working capital. An additional warrant gives the holder the right to obtain one common share of the company at an exercise price identified at $6.85 over the next five years. Information regarding the offering was filed previously with the Securities and Exchange Commission, which declared the offering effective.
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About Siyata Mobile Inc.
Siyata Mobile is a B2B global vendor of next generation Push-To-Talk over Cellular (“PTT”) devices and cellular booster systems. Its portfolio of in-vehicle and rugged smartphones enable first responders and enterprise workers to instantly communicate, over a nationwide cellular network of choice, to improve communication, increase situational awareness and save lives.
Its portfolio of enterprise cellular booster systems enables first responders and enterprise workers to amplify cellular signal in remote areas, inside structural buildings where signals are weak and within vehicles for maximum cellular signal strength possible. For more information, visit the company’s websites at https://www.siyatamobile.com and http://unidencellular.com.
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