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Siyata Mobile, Inc. (SYTA) is a B2B global developer and vendor known for its innovation in Push-to-Talk over Cellular (PoC) handsets and accessories. Established in 2010, the company made its mark with the world's first 3G fixed truck phone. Building on this success, Siyata introduced the Voyager connected vehicle smartphone in 2013 and the portable Bagfone, extending connectivity to remote areas.
The company specializes in vehicle-mounted, cellular-based communications platforms over advanced 3G mobile networks and cellular booster systems. Siyata serves a range of rugged business-to-business environments, including first responders, enterprise customers, construction workers, security guards, government agencies, and more. With operations in the USA, Canada, EMEA, and Australia, Siyata derives the majority of its revenue from the USA.
Siyata's flagship products include the SD7 handset and related accessories, which are now stocked by three of the four largest U.S. wireless carriers. The SD7 is the only direct radio replacement device offered by wireless carriers, making it a popular choice across various verticals such as schools, first responders, security, and construction. Recent orders for the SD7 and its accessories are valued at over $2.2 million.
The company's innovative product line is complemented by enterprise-grade in-vehicle solutions and cellular booster systems, enhancing communication in areas with weak cellular signals. Siyata's solutions are marketed through leading North American cellular carriers and international distributors.
Siyata has recently expanded its product portfolio with the introduction of the SD7 Wired Palm Mic Pro with AI Noise Cancellation. This device features advanced AI technology to isolate the human voice while suppressing background noise, making it ideal for loud environments.
Financially, Siyata reported a 30% revenue growth, a higher gross margin, and improved Adjusted EBITDA for Q1 2024. The company's liquidity remains strong, bolstered by a recent public offering that raised approximately $4 million. Siyata's continuous innovation and strategic partnerships position it as a global leader in the $10 billion PoC market.
Siyata shares trade on Nasdaq under the symbol "SYTA", and its warrants under the symbol "SYTAW". For more information, visit www.siyata.net and unidencellular.com.
Siyata Mobile Inc. announced the pricing of its $4.0 million public offering of common shares and pre-funded warrants at a price of $1.30 per share. The company plans to use the proceeds for working capital, general corporate purposes, marketing expenses, and potential future acquisitions. The offering is expected to close on May 10, 2024, and is facilitated by Spartan Capital Securities, Siyata aims to become a global leader in the multi-billion-dollar Push-to-Talk over Cellular market.
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