Siyata Mobile Inc. Announces Pricing of approx. $4 Million Public Offering of Common Shares and Pre-Funded Warrants
Siyata Mobile Inc. (Nasdaq: SYTA, SYTAW), a global developer of Push-to-Talk over Cellular handsets and accessories, has announced the pricing of a $4 million public offering of common shares and pre-funded warrants. The offering is priced at $1.70 per share (minus $0.01 per pre-funded warrant). Proceeds will be used for working capital, general corporate purposes, and marketing expenses. Spartan Capital Securities, is the sole placement agent. The offering, conducted under the Company's Form F-1 registration statement, is expected to close on August 15, 2024, subject to customary conditions. A final prospectus will be available on the SEC's website.
Siyata Mobile Inc. (Nasdaq: SYTA, SYTAW), uno sviluppatore globale di telefoni e accessori Push-to-Talk su rete cellulare, ha annunciato il prezzo di un offerta pubblica di 4 milioni di dollari di azioni ordinarie e warrant pre-finanziati. L'offerta è fissata a 1,70 dollari per azione (meno 0,01 dollari per warrant pre-finanziato). I proventi saranno utilizzati per capitale circolante, scopi aziendali generali e spese di marketing. Spartan Capital Securities è l'unico agente di collocamento. L'offerta, condotta ai sensi della registrazione Form F-1 della Società, dovrebbe chiudere il 15 agosto 2024, soggetta a condizioni di consueto. Un prospetto finale sarà disponibile sul sito web della SEC.
Siyata Mobile Inc. (Nasdaq: SYTA, SYTAW), un desarrollador global de dispositivos y accesorios Push-to-Talk sobre celular, ha anunciado el precio de una oferta pública de 4 millones de dólares de acciones comunes y warrants prefinanciados. La oferta tiene un precio de 1,70 dólares por acción (menos 0,01 dólares por warrant prefinanciado). Los ingresos se utilizarán para capital de trabajo, fines corporativos generales y gastos de marketing. Spartan Capital Securities es el único agente colocador. La oferta, que se realiza bajo la declaración de registro Form F-1 de la Compañía, se espera que cierre el 15 de agosto de 2024, sujeto a condiciones habituales. Un prospecto final estará disponible en el sitio web de la SEC.
Siyata Mobile Inc. (Nasdaq: SYTA, SYTAW), 셀룰러를 통한 푸시 투 톡 핸드셋 및 액세서리의 글로벌 개발업체가 400만 달러의 공모를 통해 보통주와 선불 워런트를 공개 가격을 발표했습니다. 이번 공모는 주당 1.70달러로 책정되었으며 (선불 워런트당 0.01달러 차감). 수익금은 운영 자본, 일반 기업 목적 및 마케팅 비용에 사용될 예정입니다. Spartan Capital Securities가 단독 배치 대행사입니다. 이번 공모는 회사의 Form F-1 등록서에 따라 진행되며, 2024년 8월 15일에 마감될 예정이며, 일반적인 조건에 따라 달라질 수 있습니다. 최종 투자설명서는 SEC 웹사이트에서 확인하실 수 있습니다.
Siyata Mobile Inc. (Nasdaq: SYTA, SYTAW), un développeur mondial de combinés et d'accessoires Push-to-Talk sur réseau mobile, a annoncé le prix d'une offre publique de 4 millions de dollars d'actions ordinaires et de bons de souscription préfinancés. L'offre est fixée à 1,70 dollar par action (moins 0,01 dollar par bon de souscription préfinancé). Les produits seront utilisés pour le fonds de roulement, les fins corporatives générales et les frais de marketing. Spartan Capital Securities est l'unique agent de placement. L'offre, réalisée dans le cadre de la déclaration d'enregistrement de la société Form F-1, devrait se clôturer le 15 août 2024, sous réserve de conditions habituelles. Un prospectus final sera disponible sur le site web de la SEC.
Siyata Mobile Inc. (Nasdaq: SYTA, SYTAW), ein globaler Entwickler von Push-to-Talk-Handsets und Zubehör über Mobilfunk, hat die Preisinformationen zu einem Öffentlichen Angebot von 4 Millionen Dollar für Stammaktien und vorfinanzierte Warrants bekannt gegeben. Das Angebot ist zu 1,70 Dollar pro Aktie (abzüglich 0,01 Dollar pro vorfinanziertem Warrant) angeboten. Die Erlöse sollen für Betriebs капитал, allgemeine Unternehmenszwecke und Marketingausgaben verwendet werden. Spartan Capital Securities ist der alleinige Platzierungsagent. Das Angebot, das im Rahmen des Registrierungsformulars F-1 des Unternehmens durchgeführt wird, wird voraussichtlich am 15. August 2024 abgeschlossen, vorbehaltlich üblicher Bedingungen. Ein endgültiger Prospekt wird auf der Website der SEC verfügbar sein.
- Raised approximately $4 million in capital
- Funds to be used for working capital and corporate purposes
- Successful pricing of public offering
- Potential dilution of existing shareholders
- Offering price of $1.70 per share may be below current market value
Insights
Siyata Mobile's
The use of proceeds for marketing services raises eyebrows. While essential for growth, allocating a significant portion to marketing rather than product development or debt reduction might be concerning. Investors should closely monitor the company's burn rate and revenue growth post-offering to gauge the effectiveness of this capital injection.
Siyata's focus on Push-to-Talk over Cellular (PoC) technology positions it in a niche but growing market. The need for capital infusion suggests challenges in scaling operations or penetrating the market effectively. However, the investment in marketing could potentially accelerate adoption of their PoC solutions.
Investors should watch for upcoming product announcements or partnerships that could justify this fundraising. The PoC market is competitive, with larger players like Motorola Solutions dominating. Siyata's success will hinge on its ability to differentiate its offerings and capture market share in specific verticals like public safety or industrial sectors.
This offering reflects a challenging capital market environment for small-cap tech companies. The pricing and structure suggest investor appetite, forcing Siyata to offer more favorable terms. The use of a placement agent rather than underwriters further indicates difficulties in securing traditional financing.
The timing, just before the expected closing date, hints at urgency in securing funds. Investors should be cautious and consider the company's burn rate and revenue trajectory. While the infusion provides a lifeline, it's important to see tangible progress in market penetration and revenue growth in the coming quarters to justify this dilution. The stock may face short-term pressure due to the offering's terms.
Spartan Capital Securities, LLC is acting as the sole placement agent in connection with the offering.
The offering is expected to close on August 15, 2024, subject to customary closing conditions. The offering is being conducted pursuant to the Company's registration statement on Form F-1, as amended (File No. 333-281218), initially filed with the Securities and Exchange Commission (the "SEC") on August 2, 2024, and subsequently declared effective by the SEC on August 13, 2024. A final prospectus relating to the offering will be filed with the SEC and will be available on the SEC's website at https://www.sec.gov/. Copies of the final prospectus relating to this offering may be obtained from Spartan Capital Securities, LLC, at 45 Broadway, 19th Floor,
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 developer and vendor of next-generation Push-To-Talk over Cellular handsets and accessories. Its portfolio of rugged PTT handsets and accessories enables first responders and enterprise workers to instantly communicate over a nationwide cellular network of choice, to increase situational awareness and save lives. Police, fire and ambulance organizations as well as schools, utilities, security companies, hospitals, waste management companies, resorts and many other organizations use Siyata PTT handsets and accessories today.
In support of our Push-to-Talk handsets and accessories, Siyata also offers enterprise-grade In-Vehicle solutions and Cellular Booster systems enabling our customers to communicate effectively when they are in their vehicles, and even in areas where the cellular signal is weak.
Siyata sells its portfolio through leading North American cellular carriers, and through international cellular carriers and distributors.
Siyata's common shares trade on the Nasdaq under the symbol "SYTA", and our publicly traded warrants trade on the Nasdaq under the symbol "SYTAW".
Visit https://siyata.net and unidencellular.com to learn more.
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.
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SOURCE Siyata Mobile Inc.
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