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VANCOUVER - Siyata Mobile Inc. (NASDAQ: SYTA), a global developer of Push-to-Talk over Cellular (PoC) handsets with current market capitalization of $2.79 million, has recently provided further details on the terms of its definitive merger agreement with Core Gaming, Inc. According to InvestingPro data, the company has faced significant challenges, with its stock down over 50% year-to-date. The transaction, which is set to be finalized in the second quarter of 2025, is pending regulatory approval and customary closing conditions.
One of the key terms disclosed involves the issuance of a special, one-time stock dividend to legacy Siyata shareholders on record as of the merger’s closing date. This dividend will ensure that these shareholders will own at least 10% of the outstanding shares of the combined entity, immediately after the merger is completed. This term was designed to protect the interests of Siyata’s shareholders regardless of market fluctuations. InvestingPro analysis reveals the company currently trades near its 52-week low, with a weak overall financial health score, making this shareholder protection particularly significant.
The merger, valued at $160 million for Core Gaming, was confirmed as fair from a financial perspective to Siyata, according to a fairness opinion provided by ValueScope, LLC. With Siyata’s current revenue of $11.99 million and trading at relatively low valuation multiples, this merger represents a significant transformation for the company. Siyata’s CEO, Marc Seelenfreund, has expressed enthusiasm for the partnership, anticipating the value it will unlock for shareholders. For deeper insights into Siyata’s valuation and financial metrics, investors can access comprehensive analysis through InvestingPro’s detailed research reports.
Core Gaming, headquartered in Miami, is an AI-driven mobile game developer and publisher with a significant global user base. Siyata Mobile specializes in rugged PTT handsets and accessories for first responders and enterprise workers, offering communication solutions that are sold through North American and international cellular carriers.
The information in this article is based on a press release statement from Siyata Mobile Inc.
In other recent news, Siyata Mobile Inc. has announced a definitive merger agreement with Core Gaming, Inc., which will result in Core Gaming becoming a wholly-owned subsidiary of Siyata. The merger, approved by both companies’ boards, values Core Gaming at $160 million and is expected to close in the second quarter of 2025. Additionally, Siyata Mobile’s SD7 Ultra device is set to become part of T-Mobile’s initiative to enhance communication tools for first responders, marking a significant development in emergency communication services. Siyata has also secured a major order from a transit authority in the western United States, supplying several thousand SD7 handsets to modernize the authority’s communication systems.
In another strategic move, Siyata has entered into a distribution agreement with IP Access International, expanding the reach of its SD7 rugged devices to industries operating in remote areas. The company is also preparing for an upcoming press conference to discuss these significant developments, with CEO Marc Seelenfreund emphasizing the importance of transparency and shareholder communication. These recent activities highlight Siyata’s ongoing efforts to strengthen its market position and expand its product offerings.
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