Spartan Capital Securities Announces Successful Closing of Siyata Mobile Inc.’s $4.0 Million Public Offering
May 10 2024 - 11:19AM
Spartan Capital Securities LLC, a premier investment banking firm,
is thrilled to announce the successful closing of Siyata Mobile
Inc.’s public offering. The offering comprised of common shares and
pre-funded warrants, priced at $1.30 per share, totaling $4.0
million. Siyata Mobile Inc. (“Siyata” or the “Company”) is a global
developer and vendor of Push-to-Talk over Cellular (PoC) handsets
and accessories. The shares are listed on the Nasdaq under the
ticker symbols “SYTA” and “SYTAW”.
The transaction has generated gross proceeds of $4.0 million for
Siyata, prior to deductions for underwriting discounts and other
related expenses. The offering closed on May 10, 2024, as per
schedule, subject to customary closing conditions. Additionally,
Siyata has granted the underwriters a 45-day option to purchase
additional shares at the public offering price, less underwriting
discounts.
The capital raised through this offering will primarily fuel
Siyata’s expansion in US markets, bolster marketing efforts, and
support potential future acquisitions.
The offering was conducted on a firm commitment basis, with
Spartan Capital Securities LLC serving as the sole placement agent.
Sichenzia Ross Ference Carmel LLP represented Siyata Mobile in this
public offering, with the legal team led by partners Ross Carmel
and Thiago Spercel, and associate Mohit Agrawal. Lucosky Brookman
LLP served as counsel for Spartan Capital Securities in connection
with the offering.
Marc Seelenfreund, CEO of Siyata Mobile Inc., expressed his
satisfaction with the offering, stating, “We are delighted to have
completed this offering, which will accelerate our growth and
solidify our position in the PoC market. I extend my sincere
appreciation to the entire Spartan team for their dedication and
hard work throughout this process.”
John Lowry, CEO of Spartan Capital Securities LLC, added, “This
successful public offering marks a significant milestone in Siyata
Mobile’s journey. Our role as the sole placement agent underscores
our capability to lead complex transactions that enhance
shareholder value. We believe Siyata Mobile is well-positioned for
future successes, and we look forward to continuing our
support.”
Spartan Capital Securities LLC extends its sincere gratitude to
Siyata’s management team for their collaboration and commitment
throughout the offering process.
About Spartan Capital Securities, LLC:Spartan Capital
Securities, LLC, is a leading full-service financial firm,
providing expert investment advice to high-net-worth individuals
and institutional clients. Renowned for its deep market knowledge,
strategic risk management, and personalized service, Spartan
Capital stands as a beacon of integrity and professionalism in the
financial services industry. For more information, please visit
www.spartancapital.com.
Contact:Spartan Capital Securities, LLC 45 Broadway, 19th
FloorNew York, NY 10006investmentbanking@spartancapital.com