Siyata Mobile (TSX.V: SIM) (OTCQX: SYATF) (NASDAQ: SYTA, SYTAW), a leading global developer and provider of Push-to-Talk Over Cellular (“PTT/PoC”) systems for enterprise customers, has announced the closing of its upsized $12.6 million U.S. initial public offering on the NASDAQ. The company had previously announced the IPO of 2,100,000 units at a price of $6 per unit, with each unit comprised of one common share in the capital of the company and one warrant to purchase one common share in the capital of the company. The shares and warrants were issued separately and were approved to list on the Nasdaq Capital Market under the symbols “SYTA” and “SYTAW.” Trading began on Sept. 25, 2020, and at closing Siyata received gross proceeds of approximately $12.6 million before deducting underwriting discounts and commissions and other estimated expenses. The company has announced that it intends to use the net proceeds from the offering for sales and marketing, growth capital, research and development; any remainder would be used for working capital. Psagot Investment House, an Israeli investment firm and the country’s largest pension fund manager, was the lead investor in the offering.
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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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