Siyata Mobile (NASDAQ: SYTA, SYTAW), a global developer and vendor of Push-to-Talk (“PTT”) over Cellular (“PoC”) handsets and accessories, has closed on its previously announced public offering. The offering was comprised of common shares valued at an estimated $4 million along with prefunded warrants to purchase common shares at a public offering price of $1.70 per share. According to the announcement, gross proceeds from the offering do not include any funds from the future exercise of any prefunded warrants.
Siyata also issued corrections on its second-quarter financial results, which were released yesterday. According to the correction, revenues for the company were $1.9 million compared to $2.7 million for the three months ended June 30, 2023; the report yesterday stated that revenues were $1.6 million compared to $2.7 million for the three months ended June 30, 2023. In addition, gross profit for the quarter totaled $0.2 million , or 10.4% of revenue, compared to $0.8 million , or 29.7% of revenue; the report yesterday stated that gross profit was ($144,000) , or -8.9% of revenue, compared to $804,000 , or 29.7% of revenue.
In addition, the company announced delivery on a purchase order for its SD7 handsets from a new customer: the California Department of Parks and Recreation, According to the announcement, the devices will be used at beaches and along state waterfronts. “We were pleased to deliver our highly innovative SD7 handsets to the state of California ahead of the busy Fourth of July holiday,” said Siyata Mobile CEO Marc Seelenfreund in the press release. “Our ruggedized devices are well-suited for outdoor conditions and enable users to remain reliably connected across vast areas serviced by the parks and rec department.”
To view the full press releases, visit https://ibn.fm/Fjq4J, https://ibn.fm/InwBe and https://ibn.fm/pFza1
About Siyata Mobile Inc.
Siyata Mobile is a business-to-business (“B2B”) global developer and vendor of next-generation, Push-to-Talk (“PTT”) over Cellular (“POC”) handsets and accessories. Its portfolio of rugged PTT handsets and accessories enables first responders and enterprise workers to instantly communicate over a nationwide cellular network of choice, to increase situational awareness and save lives. Police, fire and ambulance organizations as well as schools, utilities, security companies, hospitals, waste-management companies, resorts and many other organizations use Siyata PTT handsets and accessories. In support of its Push-to-Talk handsets and accessories, Siyata also offers enterprise-grade, in-vehicle solutions and cellular booster systems enabling customers to communicate effectively when they are in their vehicles, even in areas where the cellular signal is weak. Siyata sells its portfolio through leading North American cellular carriers, and through international cellular carriers and distributors. For more information about the company, visit www.SiyataMobile.com or www.UnidenCellular.com.
NOTE TO INVESTORS: The latest news and updates relating to SYTA are available in the company’s newsroom at http://ibn.fm/SYTA
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