Siyata Mobile Completes $4.0 Million Public Offering

Siyata Mobile Inc., a global developer and vendor of Push-to-Talk over Cellular devices, announced the closure of a $4.0 million public offering of common shares and pre-funded warrants. The offering price was set at $1.30 per share. The transaction generated approximately $3.9 million in gross proceeds, exclusive of placement agent fees and other related expenses.

The company disclosed plans to allocate the net proceeds towards working capital, general corporate expenses, marketing and advertising services, and potential future acquisitions. Siyata's CEO, Marc Seelenfreund, indicated that the funds would bolster the company's growth and enhance their positioning in the competitive Push-to-Talk market.

Spartan Capital Securities, LLC served as the sole placement agent for the offering. The offer was made under Siyata's registration statement on Form F-1, declared effective by the SEC on May 7, 2024. Additional details and the final prospectus are available through Spartan Capital Securities and on the SEC's website.