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. news covers the issuer’s history as a developer and vendor of mission-critical Push-to-Talk over Cellular handsets and accessories, including SD7 devices, in-vehicle solutions, cellular booster systems, carrier distribution, RAM Mounts accessories, and Verizon Frontline Verified status.
Later updates document the completed shift to Core AI Holdings, Inc. following the Core Gaming merger, with recurring disclosures on operating performance, AI music and voice-generation platforms such as VoicePix and LikeMusic.AI, material agreements, shareholder voting, capital structure, and governance.
Siyata Mobile Inc. has announced a new distribution agreement with TESSCO Technologies, allowing TESSCO to distribute Siyata’s Uniden cellular signal boosters. Sales are expected to commence in Q1 2022. The partnership will enable TESSCO to co-brand these products with Ventev’s accessories, targeting professional and first responder markets. Siyata aims to enhance its market presence through TESSCO’s extensive distribution network, anticipating a positive revenue impact from this collaboration.
Siyata Mobile Inc. (NASDAQ:SYTA,SYTAW) has completed an underwritten public offering, raising approximately $20 million. The offering included 8,695,652 common shares and accompanying warrants, priced at $2.30 each. A 45-day option for underwriters to purchase additional shares was granted, of which 1,304,347 warrants were partially exercised. The proceeds will be used to repay a portion of senior secured convertible notes and for general corporate purposes, including working capital and growth strategies.
Siyata Mobile Inc. (NASDAQ:SYTA)(NASDAQ:SYTAW) announced a public offering of 8,695,652 common shares at $2.30 each, potentially raising approximately $20 million before expenses. Each share comes with a warrant to purchase an additional common share, which is immediately exercisable. The offering is expected to close around January 11, 2022. Proceeds will primarily repay a senior secured convertible promissory note and support general corporate purposes, including growth strategies and R&D. The underwriters have a 45-day option for an additional 1,304,347 shares.
Siyata Mobile Inc. (NASDAQ:SYTA, SYTAW) has secured a $1.3 million purchase order from police and first responder clients in the EMEA region. This order boosts year-to-date sales for the company's SD7 and VK7 products to over $1.8 million. The SD7 is a ruggedized Push-To-Talk device designed for demanding environments, while the VK7 enhances in-vehicle communication. Siyata anticipates continued growth in adoption due to its innovative product capabilities, aiming to address limitations of traditional land mobile radios.
Siyata Mobile Inc. has announced initial orders for its SD7 ruggedized device, totaling $550,000, from customers in the U.S. and EMEA. The SD7 is designed for first responders and enterprise customers, offering an affordable solution with extensive functionality. Its durability features include an IP68 rating and robust battery life, making it suitable for harsh environments. CEO Marc Seelenfreund anticipates widespread adoption of the SD7, reflecting the company's capability to meet critical technology needs.
Siyata Mobile Inc. (SYTA) has launched the VK7, a patent-pending vehicle kit accessory designed specifically for the SD7 Push-to-Talk (PoC) handset. This innovative solution creates an in-vehicle experience akin to traditional land mobile radios (LMR). The VK7 includes a 20-watt speaker and supports external antennas, enhancing cellular connectivity.
CEO Marc Seelenfreund emphasized the potential of this product for enterprise, first responders, and public safety markets. The SD7 handset's rugged design and advanced features position it well for demanding environments.
Siyata Mobile Inc. has closed a US$6 million funding agreement with The Lind Partners to repay existing convertible notes. This financing involves a US$7.2 million convertible note with a 0% interest rate and a conversion price of US$10.00 per share, along with warrants for 2,142,857 shares at US$4.00 per share. The company will file a registration statement for the shares within 45 days of closing. Siyata Mobile specializes in Push-to-Talk devices and cellular booster systems.
Siyata Mobile Inc. (NASDAQ: SYTA, SYTAW) announced a funding agreement with The Lind Partners for US$6 million to repay existing convertible notes. The investment consists of a US$7.2 million convertible note convertible at US$10.00 per share, maturing in 24 months with 0% interest. Siyata plans to use the proceeds to eliminate debt and achieve profitability. The deal includes warrants for 2,142,857 shares at US$4.00 each, enhancing growth potential in a multi-billion-dollar market for emergency communication solutions.
Siyata Mobile (NASDAQ:SYTA) reported Q2 2021 financial results, showing revenues of $356,979, an 83% decline from $2,130,981 year-over-year, primarily due to a one-time merchandise return. Adjusted EBITDA was ($4,607,747), significantly worse than ($541,721) in Q2 2020. The net loss widened to ($10,862,538) compared to ($627,004) in the prior year. Despite these challenges, booster sales surged 152% in the U.S. industrial market. The company aims for revenue growth and improved gross margins moving forward.
Siyata Mobile Inc. has received approval from Telstra, Australia's leading cellular carrier, for its UV350 vehicle fleet communication device. This device is the world's first 4G/LTE, all-in-one system that facilitates cellular voice calls, Push-to-Talk over Cellular (PoC), and data applications, aimed at enhancing communications for professional drivers and first responders. The approval supports Siyata's goal to expand its presence in the PoC market. The company plans to collaborate further with Telstra on additional device approvals.