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Siyata Mobile Inc. - SYTA STOCK NEWS

Welcome to our dedicated page for Siyata Mobile news (Ticker: SYTA), a resource for investors and traders seeking the latest updates and insights on Siyata Mobile stock.

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.

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Siyata Mobile (Nasdaq: SYTA, SYTAW) has announced that the Zello push-to-talk (PTT) application is now integrated into its SD7 handsets. This collaboration aims to enhance communication solutions, especially for first responders, public safety, and various essential services. The Zello app is widely used for its reliability and clarity in communication. The integration is expected to broaden Siyata's market reach and boost device sales. Recent purchases from Westchester County, NY, and positive feedback from River Road Rescue Squad in NJ underscore the demand for this combined solution.

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Siyata Mobile has appointed Bob Escalle as Vice President of Public Safety, enhancing its leadership team with his extensive 30-year experience. Escalle, formerly a director at Samsung’s Mission Critical Push-to-Talk team, brings expertise in U.S., European, and Asian markets. CEO Marc Seelenfreund highlighted the $7 billion Push-to-Talk over Cellular (PoC) industry and emphasized the growing focus on public safety. Escalle's background with companies like Motorola Solutions and ESChat will be instrumental as Siyata aims to become a global PoC leader. Escalle expressed enthusiasm about Siyata's unique market position and next-generation 5G technology.

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Siyata Mobile (Nasdaq: SYTA, SYTAW) has announced a strategic investment in Canadian Towers & Fiber Optics (CT&FO), a company developing telecommunications infrastructure in Mexico. CT&FO owns the largest dark fiber optic network in Central Mexico, with Telefonica as its anchor tenant under a 20-year lease. This investment provides Siyata with access to the growing telecommunications market in Latin America, particularly Mexico, the second-largest market in the region's $81 billion telecommunications industry. CT&FO has 24 deployed towers and plans to develop over 1,000 additional towers. The partnership aims to expand business opportunities for Siyata's Push-to-Talk (PTT) handsets in Central Mexico and across Latin America.

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Siyata Mobile announced the closing of a public offering amounting to approximately $6.0 million in common shares and pre-funded warrants. Each common share was offered at $0.58. The company intends to use the proceeds for working capital, general corporate purposes, marketing services, and potential future acquisitions. Dominari Securities acted as the sole placement agent. The offering was conducted under a registration statement on Form F-1 which was filed with the SEC on June 6, 2024, and declared effective on June 26, 2024. The prospectus for the offer is available on the SEC's website.

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Siyata Mobile (NASDAQ:SYTA) has announced the pricing of a public offering worth approximately $6 million, consisting of common shares and pre-funded warrants at $0.58 per share ($0.01 less for pre-funded warrants). The proceeds will be used for working capital, general corporate purposes, marketing and advertising services, strategic investments, and potential future acquisitions. Dominari Securities is the sole placement agent for this offering, which is expected to close on June 28, 2024, pending customary closing conditions. The offer is made through the company's registration statement on Form F-1, declared effective by the SEC on June 26, 2024. A final prospectus will be filed with the SEC and will be accessible on its website.

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Siyata Mobile announced a strategic partnership with JD Telecom to expand the distribution of its SD7 handsets and VK7 Vehicle Kits. JD Telecom is a notable telecom solutions provider and a strategic partner for T-Mobile, known for its commercial-grade vehicle solutions. Siyata CEO Marc Seelenfreund expressed optimism about the partnership's potential to increase demand for their Push-to-Talk (PTT) over Cellular devices. JD Telecom's Jack Day highlighted the compatibility of Siyata's products with their existing solutions and emphasized the mutual benefits of cross-selling opportunities.

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Siyata Mobile (Nasdaq: SYTA, SYTAW), a global developer of Push-to-Talk over Cellular (PoC) handsets and accessories, has been awarded a new U.S. patent for its VK7 Vehicle Kit. This patent, numbered US 11,949,442 B2, covers the Mobile Conversion Apparatus for Docking Cellular Data Devices. The VK7 Kit, designed to work with Siyata's SD7 Handset, integrates a 10-watt speaker, a slide-in connection sleeve, and an external antenna connection, offering an in-vehicle experience akin to traditional land mobile radio devices. The VK7 previously received patent protection in China. CEO Marc Seelenfreund highlighted the patent as a testament to the company's R&D team's innovation and strategic global expansion efforts.

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Siyata Mobile (Nasdaq: SYTA, SYTAW) announced that the City of Lancaster Public Utilities Department has selected its SD7 Push-to-Talk (PTT) handsets, VK7 Vehicle Kits, and accessories to replace traditional two-way radios. The department, responsible for utility services in Lancaster, Ohio, opted for Siyata's solution due to its ruggedness, ease of use, and operational benefits. The SD7 handsets are expected to offer cost savings and surpass the limitations of traditional land-to-mobile technology, essential for utility field work. Traffic Control Supervisor Charlie Mullett highlighted the versatility and familiarity of the SD7 units, which can function both as handheld and docked units in vehicles.

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Siyata Mobile has introduced new features to its SD7 Wired Palm Mic Pro with AI Noise Cancellation, enhancing its utility in loud work environments. The device, compatible with Siyata's SD7 Handset, now employs AI to adjust microphone levels, isolate human voices, and suppress background noises. Additionally, it normalizes voice levels for consistent conversation quality. Applications include concert halls, construction sites, road crews, mining vehicles, and first responder vehicles. CEO Marc Seelenfreund emphasizes the company's commitment to leading the $7 billion Push-to-Talk over Cellular market and anticipates further innovations in 2024.

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Siyata Mobile (Nasdaq: SYTA, SYTAW) announced an expansion of its SD7 handset rollout at Baha Mar Resort in Nassau, Bahamas. The resort, which had initially deployed the SD7 handsets to replace traditional two-way radios, will now extend their use across various departments, including valet, bellman services, engineering, and public areas. The SD7 handsets offer features such as loud and clear audio, rugged design, and dual-mode operation (Wi-Fi and cellular), making them ideal for the resort's needs. Siyata Mobile sees this expansion as a significant opportunity within the hospitality sector, highlighting the SD7's advantages over traditional Land Mobile Radio (LMR) systems.

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FAQ

What does Siyata Mobile, Inc. specialize in?

Siyata Mobile, Inc. specializes in Push-to-Talk over Cellular handsets and accessories, targeting first responders, enterprise customers, and rugged business environments.

Where does Siyata Mobile operate?

Siyata Mobile operates in the USA, Canada, EMEA, and Australia, with the majority of its revenue derived from the USA.

What are some of Siyata Mobile's flagship products?

Siyata's flagship products include the SD7 handset, Voyager connected vehicle smartphone, and portable Bagfone.

What recent achievements has Siyata Mobile made?

Siyata has secured new orders for its SD7 handsets valued at over $2.2 million and has expanded its product portfolio with the SD7 Wired Palm Mic Pro with AI Noise Cancellation.

How does Siyata Mobile's SD7 handset stand out?

The SD7 handset is the only direct radio replacement device offered by wireless carriers, stocked by three of the largest U.S. carriers, making it highly popular in various verticals.

What innovative features does the SD7 Wired Palm Mic Pro offer?

The SD7 Wired Palm Mic Pro features advanced AI to isolate human voice and suppress background noise, ensuring clear communication in loud environments.

How has Siyata Mobile performed financially recently?

For Q1 2024, Siyata reported a 30% revenue growth, a higher gross margin, and improved Adjusted EBITDA.

What partnerships has Siyata Mobile recently formed?

Siyata has partnered with JD Telecom to expand the distribution of its SD7 handsets, VK7 Vehicle Kits, and related components.

What is Siyata Mobile's ticker symbol?

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

Where can I find more information about Siyata Mobile?

More information about Siyata Mobile can be found on their websites www.siyata.net and unidencellular.com.

Siyata Mobile Inc.

Nasdaq:SYTA

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