Oliver BriggsVancouver, BC – December 24, 2024 – Siyata Mobile Inc. is set to initiate a crucial financial maneuver with a 1-for-10 reverse stock split of its common shares. This adjustment, effective at 12:01 a.m. Eastern Time on December 27, 2024, aims to align the company with Nasdaq’s listing criteria by meeting the minimum bid price requirement.
What Investors Need to Know: Starting on December 27, 2024, Siyata’s common shares will trade on the Nasdaq Capital Market under the unchanged ticker “SYTA.” Investors will notice their shares combined at a ratio of ten existing shares into one, with a new CUSIP number, 83013Q 889, reflecting this consolidation. This move is designed to enhance trading flexibility and potentially stabilize the Company’s stock price.
The Implications: The reverse stock split will automatically adjust all convertibles like stock options, warrants, and any other securities in accordance with the new ratio. Notably, the par value and the authorized number of shares remain unchanged, and any fractional shares resulting from the split will be rounded up.
Necessary Actions for Shareholders: While shareholders with electronic holdings will see automatic updates, those holding stock certificates must exchange them through Siyata’s transfer agent, Computershare. This process ensures that all investors receive the appropriately adjusted shares without complication.
About Siyata Mobile: Recognized for its advanced push-to-talk over cellular systems, Siyata Mobile provides essential communication tools that empower businesses, especially first responders, with robust connectivity solutions.
For additional details, visit [siyatamobile.com](https://www.siyatamobile.com).
Stay informed on how these strategic decisions impact future investments!
Strategic Move: What Siyata Mobile’s Reverse Stock Split Means for Investors
Introduction
Siyata Mobile Inc., an established provider of push-to-talk over cellular communication systems, has announced a significant strategic decision to conduct a 1-for-10 reverse stock split. Scheduled to take effect on December 27, 2024, this financial maneuver aims to align the company’s shares with Nasdaq’s listing requirements. The purpose of this article is to delve into the implications, potential benefits, and insights surrounding this move, providing investors with comprehensive information on what this means for their holdings.
Understanding the Reverse Stock Split
The reverse stock split involves the consolidation of every 10 existing common shares into a single new share. This adjustment will see Siyata Mobile’s common stock continue to trade under the ticker “SYTA” on the Nasdaq Capital Market. Importantly, a new CUSIP number, 83013Q 889, has been assigned to these reorganized shares to reflect the change.
Benefits and Implications
1. Trading Flexibility: One of the primary motivations behind this reverse stock split is to enhance trading flexibility. By increasing the share price through consolidation, Siyata Mobile aims to appeal to a broader range of institutional investors and possibly reduce stock price volatility.
2. Nasdaq Compliance: Meeting Nasdaq’s minimum bid price requirement is crucial for maintaining its listing on such a prestigious exchange. By potentially stabilizing the stock price, Siyata Mobile strengthens its position in the market.
3. Adjustment of Securities: All convertible instruments, stock options, and warrants will be adjusted according to the new share ratio. Importantly, the reverse split does not alter the par value or the authorized number of shares.
Practical Steps for Shareholders
For shareholders who hold stocks electronically, the process will be automatic. However, those with physical stock certificates need to engage with Siyata’s transfer agent, Computershare, to exchange their certificates and receive the adjusted shares. This ensures that all shareholders are smoothly transitioned without any discrepancies.
About Siyata Mobile
Known for developing advanced communication tools, Siyata Mobile serves a variety of sectors, with a strong focus on empowering first responders with reliable connectivity solutions. Its push-to-talk systems are vital in enhancing communication capabilities across professional fields.
Conclusion and Outlook
As Siyata Mobile embarks on this strategic financial adjustment, the focus remains on meeting critical listing criteria and stabilizing its stock. This decision is part of a larger strategy to bolster investor confidence and secure a robust positioning in the market.
For more information on these developments, please visit Siyata Mobile. Stay informed about how these strategic moves could influence future investments and trading environments.
