Siyata Mobile Inc., a global provider of cellular signal boosters and PoC devices, today announced that it has signed a funding 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 83.39% increase. As of today, it dips 21% in pre-market to the price of $4.18. Siyata is a leading provider of digital push-to-talk solutions for emergency responders. With this funding, Marc Seelenfreund, the company’s CEO, stated that they intend to become a leading player in this field.
The Lind Partners, a private firm that specializes in technology investments, has agreed to acquire Siyata, a leading provider of wireless solutions in the emerging markets. The company’s robust product portfolio and distribution network will allow it to expand its reach in the rapidly growing market. The investment consists of a US$7,000,000 convertible note with a 24-month maturity and zero annual interest rate. The note is convertible into the Company’s common shares on a fixed conversion price of US$10. The Company has the right to buy back up to 25% of the outstanding Note. The Note is secured over certain Company assets.
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