Siyata Mobile Acquires Enterprise Mobile for CAD $1.5M

TL;DR

Siyata Mobile buying Enterprise Mobile for $1.5M CAD, closing by Aug 31.

AI Summary

Siyata Mobile Inc. announced on July 8, 2024, that it has entered into a definitive agreement to acquire all of the issued and outstanding shares of Enterprise Mobile Ltd. for a purchase price of CAD $1.5 million. This acquisition is expected to close on or before August 31, 2024, and will be funded through a combination of cash on hand and potentially a new credit facility.

Why It Matters

This acquisition aims to expand Siyata Mobile's product offerings and market reach within the enterprise mobility sector, potentially increasing revenue and market share.

Risk Assessment

Risk Level: medium — The acquisition is subject to closing conditions and financing, introducing execution risk and potential integration challenges.

Key Numbers

• CAD $1.5M — Acquisition Price (Siyata Mobile's purchase price for Enterprise Mobile Ltd.)
• August 31, 2024 — Closing Deadline (Latest expected date for the acquisition to be completed.)

Key Players & Entities

• Siyata Mobile Inc. (company) — Acquiring company
• Enterprise Mobile Ltd. (company) — Target company
• CAD $1.5 million (dollar_amount) — Purchase price
• August 31, 2024 (date) — Expected closing date

FAQ

Filing Documents

• ea0209185-6k_siyata.htm (6-K) — 13KB
• ea020918501ex99-1_siyata.htm (EX-99.1) — 12KB
• ex99-1_001.jpg (GRAPHIC) — 3KB
• 0001213900-24-060211.txt ( ) — 30KB

From the Filing

OF FOREIGN PRIVATE ISSUER UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 6-K REPORT OF FOREIGN PRIVATE ISSUER PURSUANT TO RULE 13a-16 OR 15d-16 UNDER THE SECURITIES EXCHANGE ACT OF 1934 For the Month of: July, 2024 Commission File Number: 001-39557 Siyata Mobile Inc. (Translation of registrant’s name into English) 7404 King George Blvd., Suite 200, King’s Cross Surrey, British Columbia V3W 1N6, Canada (Address of principal executive office) Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F: Form 20-F Form 40-F On July 8, 2024, Siyata Mobile Inc., a British Columbia (Canada) company (“Siyata” or the “Company”) that is a global vendor of Push-to-Talk over Cellular devices and of cellular signal booster systems, issued a press release announcing the appointment of Bob Escalle as Vice President of Public Safety. The Company’s press release is filed as Exhibit 99.1 to this Report and is incorporated herein by reference. Forward Looking Statements This Report of Foreign Private Issuer on Form 6-K contains forward-looking statements within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995 and other Federal securities laws. Words such as “expects,” “anticipates,” “intends,” “plans,” “believes,” “seeks,” “estimates” and similar expressions or variations of such words are intended to identify forward-looking statements. Because such statements deal with future events and are based on the Company’s current expectations, they are subject to various risks and uncertainties, and actual results, performance or achievements of the Company could differ materially from those described in or implied by the statements in this Report. The forward-looking “Risk Factors” in the Company’s final prospectus filed with the Securities and Exchange Commission (“SEC”) on April 8, 2024, and in any subsequent filings with the SEC. Except as otherwise required by law, the Company undertakes no obligation to publicly release any revisions to these forward-looking statements to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events. References and links to websites and social media have been provided as a convenience, and the information contained on such websites is not incorporated by reference into this Report. The Company is not responsible for the contents of third party websites. EXHIBIT INDEX Exhibit No. Description 99.1 Press release dated July 8, 2024. 1 Pursuant to the requirements of the Securities Exchange Act of 1934, the Company has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. Date: July 9, 2024 SIYATA MOBILE INC. By: /s/ Marc Seelenfreund Name: Marc Seelenfreund Title: Chief Executive Officer 2

View Full Filing

View this 6-K filing on SEC EDGAR