Siyata Mobile Inc Stock Price, News & Analysis

Siyata Mobile Inc. (NASDAQ: SYTA) has received a $1.2 million follow-on order from a leading international EMS customer for additional units of the Company's Push-to-Talk over Cellular (PoC) rugged handsets, Real Time View, and related accessories. This order comes shortly after the company's announcement of $4.5 million in new orders on July 18, 2024. CEO Marc Seelenfreund emphasized that this repeat order demonstrates the strong market demand for Siyata's solutions and validates the performance of their devices and monitoring system. The customer has been purchasing Siyata's devices for the past two years to enhance collaboration and improve critical communications across its operations.

Siyata Mobile Inc. (Nasdaq: SYTA), a global developer of Push-to-Talk over Cellular (PoC) handsets and accessories, has added TJ Kennedy to its Advisory Board. Kennedy, former President of the First Responder Network Authority (FirstNet), brings extensive experience in mission-critical communications and public safety. CEO Marc Seelenfreund expressed confidence that Kennedy's expertise will help drive sales growth and penetrate the public safety market.

Kennedy, currently a Venture Advisor for AI Fund and Board Member at Echelon AI, has a strong track record in the public safety sector. He previously served as CEO of WRAP Technologies, where he improved profitability and grew gross profit by 87% year-over-year. His addition to Siyata's Advisory Board is expected to enhance the company's strategic vision and long-term growth prospects in the rapidly expanding public safety communications market.

Siyata Mobile Inc. (Nasdaq: SYTA) has announced new orders for its SD7 handsets and accessories valued at over $4.5 million from U.S. wireless carriers. The company expects Q3 2024 to be its best sales quarter in history. CEO Marc Seelenfreund highlighted the growing sales momentum and wider adoption of the SD7 handset through partnerships with leading U.S. carriers and their distributors. This development showcases the effectiveness of the U.S. wireless carrier channel as a distribution point for Siyata's Push-to-Talk over Cellular (PoC) products.

Siyata Mobile Inc. (Nasdaq: SYTA, SYTAW) has secured an order from Bensalem Township School District in Pennsylvania for its SD7 Push-to-Talk (PTT) handsets, VK7 Vehicle Kits, and related accessories. The school district, serving about 7,100 students, will deploy these devices for its bus transportation services. The selection was primarily based on the ease of use of Siyata's devices, replacing previous complicated systems.

The district's Transportation Coordinator, Fred Sponheimer, highlighted the clear communication provided by the radio over cellular network and the flexibility of a second channel for special circumstances. The school district aims to equip its entire fleet with Siyata's devices in the future, indicating potential for further business growth.

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.

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.

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.

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.

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.