InvestorNewsBreaks – Siyata Mobile Inc. (NASDAQ: SYTA) (TSX.V: SIM) Announces Closing of $6M Funding Agreement
November 15, 2021 at 12:03 PM EST
Siyata Mobile (NASDAQ: SYTA) (TSX.V: SIM), a global vendor of Push-to-Talk over Cellular (“PoC”) devices and cellular booster systems, has closed on funding from Lind Global Partners II LP, an investment fund managed by the Lind Partners, a New York-based institutional fund manager. The funding, which had been announced previously, resulted in $6 million gross proceeds for Siyata; the company intends to use the funding to repay and terminate specific existing convertible notes. The investment was comprised of a $7.2 million convertible note with a 24-month maturity and 0% annual interest rate; the note is also convertible into SYTA common shares at a fixed conversion price of $10 per share. In addition, Lind received a 60-month warrant to purchase up to 2,142,857 common shares at $4 per share. Lind Partners is an institutional fund manager and leading provider of growth capital to small- and mid-cap companies publicly traded in the United States, Canada, Australia and the United Kingdom.
To view the full press release, visit https://ibn.fm/a39ME
About Siyata Mobile Inc.
Siyata Mobile is a B2B global vendor of next-generation Push-to-Talk over cellular (“PoC”) devices and cellular booster systems. Its portfolio of in-vehicle and rugged smartphones enable first responders and enterprise workers to instantly communicate over a nationwide cellular network of choice to improve communication, increase situational awareness and save lives. Its portfolio of enterprise cellular booster systems enables first responders and enterprise workers to amplify cellular signal in remote areas, inside structural buildings where signals are weak and within vehicles for maximum cellular signal strength possible. For more information about the company, visit www.SiyataMobile.com or www.UnidenCellular.com.
NOTE TO INVESTORS: The latest news and updates relating to SYATF are available in the company’s newsroom at http://ibn.fm/SYATF
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