Siyata Mobile (NASDAQ: SYTA, SYTAW), a business-to-business (“B2B”) global vendor of next-generation cellular solutions, today announced that it has closed a private placement in Israel and Canada of 129,450 units of the company (the “units”) at a price of US$100 per unit for aggregate gross proceeds of US$12,945,000 (the “offering”). Each unit consisted of ten common shares of the company (the “shares”) and ten common share purchase warrants (each, a “warrant”). Each warrant entitles the holder to acquire an additional common share of Siyata Mobile at a price of US$11.50 for a period of 42 months from the date of issuance. Phoenix Insurance Investment Fund, a leading Israeli institutional fund with assets under management of over US$60B, led the offering. “Phoenix is a top-tier investment fund and we believe that it is a huge milestone for Siyata to have them as a major shareholder. We enter 2021 with a strong balance sheet and a growing pipeline of large-scale opportunities across all segments of our business,” said Marc Seelenfreund, CEO of Siyata. “Additionally, we believe that there is great potential to acquire revenue generating businesses that are highly complementary to our existing portfolio of innovative cellular devices for first responders and enterprises, which we will aggressively pursue in 2021.”
To view the full press release, visit https://ibn.fm/brhsS
Siyata Mobile Inc. is a B2B global vendor of next-generation push-to-talk over cellular (“PoC”) devices and cellular booster systems. Its portfolio of in-vehicle and rugged smartphones enable first responders and enterprise workers to instantly communicate, over a nationwide cellular network of choice, to improve communication, increase situational awareness and save lives.
Its portfolio of enterprise cellular booster systems enables first responders and enterprise workers to amplify cellular signal in remote areas, inside structural buildings where signals are weak and within vehicles for maximum cellular signal strength possible.
NOTE TO INVESTORS: The latest news and updates relating to SYATF are available in the company’s newsroom at http://ibn.fm/SYATF
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