Siyata Mobile Inc., a global provider of cellular signal boosters and PoC devices, today announced that it has signed a financing agreement with an institutional investor for gross proceeds of $ 6,000,000. SYTA stock traded at $ 5.30 at the close of the previous session with an increase of 83.39%. To date, it’s plunging 21% in pre-market to a price of $ 4.18. Siyata is a leading provider of digital push-to-talk solutions for emergency responders. With this funding, Marc Seelenfreund, CEO of the company, said he wanted to become a leading player in this field.
The Lind Partners, a private company specializing in technology investments, has agreed to acquire Siyata, a leading provider of wireless solutions in emerging markets. The company’s strong product portfolio and distribution network will allow it to expand its reach into a rapidly growing market. The investment consists of a US $ 7,000,000 convertible note with a maturity of 24 months and an annual interest rate of zero. The note is convertible into common shares of the Company at a fixed conversion price of US $ 10. The Company has the right to redeem up to 25% of the note in circulation. The note is secured by certain assets of the Company.
Biotech, Tech and Crypto journalist
Anthony Gonzales brings 3 years of experience to help grassroots organizations, mid-sized businesses and large institutions build their management and resource generation capacities and effectively plan for the future. He is also a mentor and professional advisor to artists working in all disciplines. He is also a gold medalist from the University of Science and Technology of Saint-Marc for the bachelor’s degree in financial management.