Siyata Mobile Inc Stock Price, News & Analysis

Siyata Mobile Inc. has successfully closed a $4.0 million registered direct offering. The company sold approximately 15,810,000 common shares and issued pre-funded warrants, with an effective purchase price of $0.23 per share. In addition, the concurrent private placement involved warrants for 17,400,000 common shares, expiring after five years. The net proceeds will be allocated for general corporate and working capital purposes. Maxim Group LLC acted as the sole placement agent for this offering.

Siyata Mobile Inc. (Nasdaq:SYTA/SYTAW) announced a securities purchase agreement with institutional investors to raise approximately $4.0 million through a registered direct offering. The company plans to sell 15,810,000 common shares and 1,590,000 pre-funded warrants at an effective price of $0.23 per share. This offering will include warrants for an additional 17,400,000 common shares, set to expire in five years. Proceeds will be allocated for general corporate expenses and working capital, with the closing anticipated by October 12, 2022.

Siyata Mobile Inc. (NASDAQ:SYTA, SYTAW) has secured a significant purchase order from a U.S. federal government contractor to supply Uniden® cellular booster kits to the U.S. Navy. This order is a major milestone as it marks the company's first foray into military sales. The Uniden® U70P cellular booster kits will enhance cellular coverage in naval buildings with poor reception, supporting up to 100 devices across 20,000 square feet. CEO Marc Seelenfreund highlighted the achievement as a stepping stone for future military and government opportunities.

Siyata Mobile announces the integration of its SD7 device with CrisisGo's Panic App, enhancing instant communication between teachers and first responders in U.S. schools. This integration aims to improve safety during crises, allowing teachers to alert police and emergency services with a single button press. With approximately 3.8 million teachers and 100,000 public schools in the U.S., this solution presents significant market potential. The partnership is expected to help schools comply with Alyssa's Law, improving emergency response protocols.

Siyata Mobile Inc. (Nasdaq:SYTA, SYTAW) announced it has received a notification from Nasdaq regarding non-compliance with the minimum bid price requirement. The company's common shares traded below $1.00 for 30 consecutive business days. Siyata has a compliance period of 180 days, ending on February 22, 2023, to meet the requirement. If compliance is not achieved, the company may receive an additional grace period, potentially requiring actions such as a reverse stock split. The notification does not affect the continued trading of its shares.

Siyata Mobile Inc. (Nasdaq: SYTA, SYTAW) reports a significant ramp-up in sales for its next-generation SD7 Push-to-Talk (PTT) device. Targeting multiple verticals including security, EMS, and government agencies, the company is seeing expanded volume purchases. CEO Marc Seelenfreund highlighted strong delivery across diverse customers. The SD7's features, such as 4G LTE operation and a rugged design, facilitate enhanced communication for first responders without infrastructure costs. The device is certified with major North American carriers and aims to innovate PTT communications.

Siyata Mobile reported Q2 2022 revenues of $970k, reflecting a significant 172% increase year-over-year. Key agreements with North American carriers and international distributors are enhancing sales of the new SD7 rugged push-to-talk device. Adjusted EBITDA improved to -$3.36M, compared to -$4.61M a year prior, while net losses decreased from -$10.86M to -$4.30M. The company ended the quarter with a cash balance of $4.05M. Management expressed optimism for sustained growth in Q3 2022.

Siyata Mobile will showcase its next-generation SD7 mission-critical push-to-talk over cellular device at the APCO 2022 conference from August 7-10 in Anaheim, California. This rugged Android-based device operates on the 4G LTE network, offering reliable communication for first responders and enterprise clients without the need for additional infrastructure like radio towers. CEO Marc Seelenfreund noted significant sales progress since its debut last year. The SD7 aims to modernize communication for public safety professionals, addressing limitations of traditional Land Mobile Radios.

Siyata Mobile Inc. (Nasdaq: SYTA, SYTAW) announced that its SD7 rugged devices provided essential emergency communications at the World Athletics Championships in Oregon, attended by approximately 55,000 visitors. The devices enabled clear communication among security and emergency medical personnel, improving operational efficiency. CEO Marc Seelenfreund highlighted the growing adoption of SD7 technology, which operates seamlessly over the FirstNet network. This event marks a significant opportunity for Siyata to showcase its innovative technology in a high-profile environment.