Siyata Mobile Inc. SYTA shares are trading higher Monday after the company provided additional details regarding a key term of its proposed merger with Core Gaming.
What To Know: The company announced that legacy Siyata shareholders will receive a special, one-time stock dividend within six months of the merger's completion. This dividend will ensure that legacy shareholders own at least 10% of the combined entity's outstanding shares immediately after the merger, regardless of market fluctuations.
The merger, which was first announced on Feb. 26 2025, is expected to close in the second quarter of 2025, pending regulatory approval and customary closing conditions. Siyata's Board of Directors received a fairness opinion from ValueScope, LLC, a Marshall & Stevens company, confirming that the $160 million valuation of Core Gaming is fair from a financial standpoint.
Core Gaming is an international AI-driven mobile game developer and publisher headquartered in Miami. The company has co-developed over 2,000 games, driven more than 600 million downloads, and maintains a global user base of over 40 million across 140 countries.
Siyata Mobile, known for its Push-to-Talk over Cellular (PoC) handsets and accessories, serves industries including public safety, schools, hospitals and utilities. The company sells its products through leading North American and international cellular carriers and distributors.
SYTA Price Action: Siyata shares were up 11.6% at $3.07 at the time of writing, according to Benzinga pro.
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