Siyata Mobile slumps after $20 mln public offering

Core AI Holdings

07/01/2022 15:18

** U.S.-listed shares of Canada-based Siyata Mobile Inc
 SYTA.O  slump as much as 44.8% to a record low of $1.78
    ** Co raises $20 mln in a public offering  urn:newsml:reuters.com:*:nACSW0VV0a 
    ** Co sold nearly 8.7 mln shares, each including one common
share and one warrant to buy another share, at $2.30 apiece,
much lower than Thursday's close of $3.23 
    ** Intends to use proceeds to repay a part of its
outstanding senior secured convertible promissory note and
corporate purposes 
    ** Stock fell 66% in 2021 and nearly 50% in the first week
of 2022, if the day's losses hold 

 (Reporting by Nivedita Balu in Bengaluru)
 ((Nivedita.Balu@thomsonreuters.com; Twitter: @niveditabalu;))