Siyata Mobile to Execute 1-for-10 Reverse Stock Split Starting December 27

Nasdaq-listed company Siyata Mobile Inc. (trading under ticker symbols SYTA and SYTAW) has announced plans to implement a 1-for-10 reverse stock split, taking effect at 12:01 a.m. Eastern Time on December 27, 2024. Trading on the Nasdaq Capital Market will resume on a post-split basis when markets open that same day, with the company maintaining its existing trading symbol “SYTA” alongside a newly assigned CUSIP number 83013Q 889.

Compliance Objective Drives Stock Consolidation

The primary catalyst for this corporate action centers on meeting Nasdaq’s $1.00 minimum bid price requirement, which represents a key listing standard the company must maintain. This reverse split seeks to address the gap between current trading levels and the exchange’s compliance threshold. However, company officials acknowledge that successfully achieving and sustaining the minimum price requirement carries no guaranteed outcome.

How the Reverse Split Works

Under the 1-for-10 ratio, every 10 existing common shares will automatically combine into a single issued share. All outstanding equity instruments—including stock options, pre-funded warrants, share purchase warrants, and convertible securities—will adjust proportionally based on the same consolidation ratio. Holders of these instruments will automatically receive post-split shares according to modified terms, with no action required from security holders.

The reverse split preserves the par value structure and authorized share count for both common and preferred stock categories. Fractional shares resulting from the consolidation will be rounded up to the next whole number at the participant level, ensuring all shareholders receive complete shares.

Transition Procedures for Different Shareholder Categories

Computershare, the company’s transfer agent, will manage the technical exchange process. Registered shareholders holding electronic book-entry shares need not take any steps—their positions will convert automatically. Shareholders holding shares through brokers, banks, trusts, or other intermediaries will see automatic position adjustments handled through their respective institutions’ standard procedures, requiring no action on their part.

Physical certificate holders must submit their pre-split certificates along with a completed letter of transmittal to receive new post-split certificates reflecting their adjusted share count.

Company Overview

Siyata Mobile operates as a B2B technology provider delivering next-generation Push-To-Talk over Cellular devices, cellular signal amplification systems, and video monitoring solutions designed for first responders and enterprise operations. The company’s rugged device portfolio enables instant workplace communication across cellular networks while its booster systems restore signal strength in structurally challenging environments. Its video management offering integrates licensed software with standard hardware to deliver fleet monitoring capabilities for customers requiring advanced visual asset tracking.

The company’s securities trade on the Nasdaq under the symbols SYTA for common shares and SYTAW for previously issued warrants. Additional information is available through siyatamobile.com and unidencellular.com.

Forward-Looking Guidance and Risk Disclosure

This announcement contains forward-looking statements under the Private Securities Litigation Reform Act’s safe harbor provisions. Terms such as “expects,” “anticipates,” “intends,” “plans,” “believes,” “seeks,” and “estimates” signal forward-looking language subject to various uncertainties. Actual results may differ materially from projections due to factors outlined in Siyata’s SEC filings. The company maintains no obligation to update forward-looking statements unless required by applicable law.