TikTok, Tik Tok, Siyata Mobile’s $160M Merger Is on the Clock

April 28, 2025

DENVER, Colo., Apr 28, 2025 (247marketnews.com)- Since the huge announcement on Feb 26, 2025, of Siyata Mobile’s (NASDAQ:SYTA) definitive merger agreement with Core Gaming, the company has been diligently progressing toward completion. Typically, such transactions close within 90 to 120 days, suggesting that updates on closing milestones and additional information are imminent.

Upon the merger’s announcement, (SYTA) shares surged to a high of $7.00 on record volume, before retracing to current levels around $1.20. This price movement establishes a trading range between $1.20 and $7.00 as the anticipated closing date approaches. Investors may observe significant appreciation as market participants position themselves to benefit from the merger’s provisions.

The merger terms stipulate that Core Gaming’s $160 million valuation will be divided by the volume-weighted average price (VWAP) of Siyaya’s stock over the 10 trading days preceding the merger’s effective date to determine the number of shares issued to Core Gaming shareholders. To ensure that legacy Siyata shareholders retain at least a 10% ownership stake in the combined entity, a special one-time stock dividend will be issued within six months following the merger’s completion. (24/7 Market News: Siyata Mobile’s 2024 Annual Report Spotlights Transformative $160M Core Gaming Merger)

For instance, if the VWAP is $2.00, approximately 80 million shares would be issued to Core Gaming, and Siyata shareholders would receive a stock dividend to maintain their 10% stake. Conversely, if the VWAP is $8.00, only about 20 million shares would be issued to Core Gaming, resulting in Siyata shareholders owning a larger percentage of the combined entity even before the stock dividend is applied.

Siyata Mobile’s implied portion of the merger valuation is $16-18 million. The company reported $11.6 million in revenue for 2024, reflecting a year-over-year growth of 41.3%, following a 27% increase in 2023. With established agreements with major carriers, Siyata is executing its business plan effectively, indicating potential for continued financial improvement.

It’s noteworthy that the announcement of the Core Gaming acquisition coincided with the current administration’s tariff initiatives, which have impacted small-cap stocks by fostering a “risk-off” sentiment among traders and funds. However, recent stabilization in policy messaging has seen the Dow Jones Industrial Average hover between 39,000 and 40,000, suggesting a more favorable environment for equities.

Siyata remains a low-float stock, with a free trading float of under 4 million shares. Following a recapitalization over six months ago in preparation for this transaction, most shareholders acquired stock between $1.00 and $3.00, potentially limiting resistance levels. To date, the company’s structure has remained intact, with no increase in share count.

ValueScope noted that valuations of companies in the gaming space that it used for comparisons, including AppLovin (NASDAQ:APP), Bilibili (NASDAQ:BILI), Golden Matrix (NASDAQ:GMG), Playtika (NASDAQ:PLTK), Roblox (NYSE:RBLX), and Take-Two (NASDAQ:TTWO), tend to land in the 3X to 5X enterprise value range.

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