MicroCap Reports Issues Update on Siyata Mobile, Inc.'s Merger with Core Gaming
Rhea-AI Summary
Siyata Mobile (NASDAQ: SYTA) has entered into a reverse merger agreement with Core Gaming, valued at $160 million. The deal, announced on February 26, 2025, will involve Siyata issuing common shares to Core Gaming shareholders, with existing Siyata shareholders maintaining a minimum 10% ownership in the combined entity.
According to Core Gaming's CEO Zacharin, with approximately 2 million Siyata shares currently outstanding and a market capitalization around $5 million, the 10% legacy shareholding should be worth over $16 million post-merger based on Core Gaming's valuation.
Positive
- Merger values Core Gaming at $160 million, significantly higher than SYTA's current $5M market cap
- 10% stake in merged company worth estimated $16M, representing potential value increase for current shareholders
Negative
- Significant dilution for current SYTA shareholders, reduced to 10% ownership
- Reverse merger structure could indicate financial challenges for SYTA
News Market Reaction 1 Alert
On the day this news was published, SYTA declined 5.45%, reflecting a notable negative market reaction.
Data tracked by StockTitan Argus on the day of publication.
St. Petersburg, Florida--(Newsfile Corp. - March 18, 2025) - MicroCap Report issues update on Siyata Mobile, Inc. (NASDAQ: SYTA) (NASDAQ: SYTAW).
Go to https://microcapreports.com/siyata to read the Siyata Mobile report provided by MicroCap Reports.
On February 26, 2025, Siyata Mobile announced it entered into an agreement to acquire Core Gaming through a reverse merger.
The deal, which values Core Gaming at
In a recent article posted by Benzinga, Core Gaming's CEO Zacharin is quoted stating, "If you extrapolate that number, the value of that
MicroCap Reports continues to monitor and report on companies like Siyata Mobile that demonstrate a strong commitment to innovation and shareholder engagement.
Contact: Editor@microcapreports.com
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SOURCE: MicroCap Studios. Inc.
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FAQ
What is the value of the merger deal between Siyata Mobile (SYTA) and Core Gaming?
What percentage will existing SYTA shareholders own in the merged company?
What is the current market capitalization of Siyata Mobile (SYTA)?
How many shares of SYTA are currently outstanding?
What is the expected value of SYTA shareholders' stake post-merger?
