Lucosky Brookman Client Siyata Mobile Announces Closing of its Upsized $12.6 Million Initial Public Offering on the NASDAQ
Lucosky Brookman served as lead counsel to Siyata Mobile Inc. (TSX-V: SIM) (FRA: WK3D) (NASDAQ: SYTA, SYTAW) (“Siyata” or the “Company”) in closing its U.S. initial public offering of 2,100,000 units at a price of $6.00 per Unit. The Common Shares of the Company and Warrants were approved to list on the NASDAQ Capital Market under the symbols “SYTA” and “SYTAW,” respectively, and began trading on September 25, 2020. Siyata received gross proceeds of approximately $12.6 Million, before deducting underwriting discounts and commissions and other estimated Offering expenses.
Psagot Investment House was the lead investor in the Offering. Psagot Investment House is an Israeli investment firm and the country's largest pension fund manager. Controlled by Apax Partners since 2010, the Firm manages assets and capital totaling US$40 billion.
Prior to the Offering, the Common Shares were traded on the OTCQX, operated by the OTC Market Group Inc. The Common Shares will continue to be listed for trading on the TSX Venture Exchange, operated by the TMX Group Limited.
Siyata Mobile Inc. is a B2B global vendor of next generation Push-To-Talk over Cellular (PTT) 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 its cellular signal in remote areas, inside structural buildings where signals are weak and within vehicles for maximum cellular signal strength possible.