Spartan Capital Securities, LLC Announces Successful Closing of Siyata Mobile Inc ’s $4.0 Million Public Offering of Common Shares and Pre-Funded Warrants

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 common shares and pre-funded warrants, priced at $1.70 per share (or $1.69 per pre-funded warrant), totaling approximately $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 Nasdaq under the ticker symbols “SYTA” and “SYTAW”.

The transaction has generated gross proceeds of approximately $4.0 million for Siyata, prior to deductions for placement agent fees and other related expenses. The offering closed on August 15, 2024, as scheduled, subject to customary closing conditions.

The capital raised through this offering will primarily be used for Siyata’s working capital, general corporate purposes, and payments to a third-party marketing agency for services related to marketing and advertising.

The offering was conducted 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.

Spartan Capital Securities LLC extends its sincere gratitude to Siyata’s management team for their collaboration and commitment throughout the offering process.