Siyata Mobile Announces Pricing of $2.25 Million Public Offering of Common Shares

Rhea-AI Summary

Siyata Mobile Inc. announces pricing of public offering of common shares

Positive

• Siyata Mobile Inc. has priced a public offering of 50,000,000 common shares at $0.045 per share, expected to generate approximately $2.25 million in gross proceeds for the Company.

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• None.

VANCOUVER, BC / ACCESSWIRE / June 27, 2023 / Siyata Mobile Inc. (NASDAQ:SYTA)(NASDAQ:SYTAW) ("Siyata" or the "Company"), a global vendor of Push-to-Talk over Cellular (PoC) devices and cellular signal booster systems, today announced the pricing of a public offering of 50,000,000 common shares at a public offering price of $0.045 per share. The gross proceeds of the offering to the Company, before deducing placement agent fees and commissions and other offering expenses, are expected to be approximately $2.25 million.

The offering is expected to close on or about June 28, 2023, subject to customary closing conditions.

Maxim Group LLC is acting as the sole placement agent in connection with the offering.

The offering is being conducted pursuant to the Company's registration statement on Form F-1, as amended, (File No. 333-272512) previously filed with and subsequently declared effective by the Securities and Exchange Commission ("SEC") on June 26, 2023. A final prospectus relating to the offering will be filed with the SEC and will be available on the SEC's website at http://www.sec.gov. Copies of the final prospectus relating to this offering, when available, may be obtained from Maxim Group LLC, 300 Park Avenue, 16th Floor, New York, NY 10022, at (212) 895-3745.

This press release shall not constitute an offer to sell or a solicitation of an offer to buy any of the securities described herein, nor shall there be any sale of these securities in any state or other jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such state or other jurisdiction.

About Siyata Mobile

Siyata Mobile Inc. is a B2B global vendor of next-generation Push-To-Talk over Cellular devices, cellular booster systems, and video monitoring solutions. Its portfolio of in-vehicle and rugged devices enables first responders and enterprise workers to instantly communicate, over a nationwide cellular network of choice, to increase situational awareness and save lives.

Its portfolio of enterprise-grade and consumer cellular booster systems enables first responders and enterprise workers to amplify cellular signals in remote areas, inside structural buildings where signals are weak, and within vehicles for the maximum cellular signal strength possible.

For its video monitoring system, Siyata integrates software that we license with off-the-shelf hardware providing our customers with an integrated advanced camera system for management and visual monitoring of their fleet vehicles.

Siyata's common shares trade on the Nasdaq under the symbol "SYTA," and its previously issued warrants trade on the Nasdaq under the symbol "SYTAW."

Visit siyatamobile.com and unidencellular.com to learn more.

Investor Relations (Canada):

Kin Communications
1-866-684-6730
SYTA@kincommunications.com

Investor Relations (United States):

Brett Maas
Hayden IR
SYTA@Haydenir.com
646-536-7331

Siyata Mobile Corporate:

Glenn Kennedy, VP of International Sales
Siyata Mobile Inc.
glenn@siyata.net

Forward Looking Statements

This press release contains forward-looking statements within the meaning of the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995 and other Federal securities laws. Words such as "expects," "anticipates," "intends," "plans," "believes," "seeks," "estimates," and similar expressions or variations of such words are intended to identify forward-looking statements. Because such statements deal with future events and are based on Siyata's current expectations, they are subject to various risks and uncertainties, and actual results, performance, or achievements of Siyata could differ materially from those described in or implied by the statements in this press release. The forward-looking statements contained or implied in this press release are subject to other risks and uncertainties, including those discussed under the heading "Risk Factors" in Siyata's filings with the Securities and Exchange Commission ("SEC") and in subsequent filings with the SEC. Except as otherwise required by law, Siyata undertakes no obligation to publicly release any revisions to these forward-looking statements to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events. References and links to websites and social media have been provided as a convenience, and the information contained on such websites or social media is not incorporated by reference into this press release.

SOURCE: Siyata Mobile, Inc.

View source version on accesswire.com:
https://www.accesswire.com/763871/Siyata-Mobile-Announces-Pricing-of-225-Million-Public-Offering-of-Common-Shares

FAQ

What is the pricing of Siyata Mobile Inc.'s public offering?

Siyata Mobile Inc. has priced a public offering of 50,000,000 common shares at $0.045 per share.

How much is the expected gross proceeds from the offering?

The offering is expected to generate approximately $2.25 million in gross proceeds for the Company.

Who is the sole placement agent for the offering?

Maxim Group LLC is acting as the sole placement agent in connection with the offering.

When is the expected closing date of the offering?

The offering is expected to close on or about June 28, 2023, subject to customary closing conditions.

Where can I obtain a copy of the final prospectus for this offering?

Copies of the final prospectus relating to this offering may be obtained from Maxim Group LLC.