Siyata Mobile jumps after merger deal with AI game developer

Core AI Holdings

26/02/2025 14:07

** Shares of communication firm Siyata Mobile SYTA.O more than double before the bell

** SYTA stock was last up at 114.9% at $7.52, making it the top gainer on the Nasdaq

** Says it will merge with AI game developer Core Gaming

** SYTA will issue shares based on $160 mln valuation of Core Gaming

** Legacy SYTA shareholders will have the right to receive dividend within six months after the merger and will own a minimum of 10% of the combined company

** Aitan Zacharin, current CEO of Core Gaming, will lead the combined company

** Up to Tuesday's close, SYTA was down ~42.4% YTD

 (Reporting by Rishi Kant in Bengaluru)

 ((Rishi.Kant@thomsonreuters.com))