Siyata Mobile Inc. Announces 1-for-18 Reverse Stock Split

TL;DR

Siyata Mobile is doing a 1-for-18 reverse split on Aug 2nd to boost share price.

AI Summary

Siyata Mobile Inc. announced on July 31, 2024, that it will implement a 1-for-18 reverse stock split, effective August 2, 2024. This action aims to adjust the number of outstanding shares and potentially increase the per-share market price.

Why It Matters

This reverse split is often done to meet stock exchange listing requirements or to make the stock more attractive to institutional investors by increasing its per-share price.

Risk Assessment

Risk Level: medium — Reverse stock splits can sometimes signal underlying financial difficulties or be a precursor to further negative events, though they can also be a strategic move to improve market perception.

Key Numbers

• 1-for-18 — Reverse Stock Split Ratio (This ratio indicates that for every 18 shares held, shareholders will have 1 share after the split.)

Key Players & Entities

• Siyata Mobile Inc. (company) — Registrant
• August 2, 2024 (date) — Effective date of reverse stock split
• 1-for-18 (share_structure_change) — Ratio of reverse stock split

FAQ

Key Financial Figures

• $1.00 — the Company with a minimum bid price of $1.00 per share for continued listing on Nasd

Filing Documents

• ea0210363-6k_siyata.htm (6-K) — 15KB
• ea021036301ex99-1_siyata.htm (EX-99.1) — 13KB
• ex99-1_001.jpg (GRAPHIC) — 3KB
• 0001013762-24-003018.txt ( ) — 33KB

Forward Looking Statements

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 statements contained or implied in this Report are subject to other risks and uncertainties, including those discussed under the heading “Risk Factors” in the Company’s Annual Report on Form 20-F 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 No. Description 99.1 Press Release 1

SIGNATURES

SIGNATURES 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 31, 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