Why Siyata Mobile (SYTA) Stock Is Falling
Portfolio Pulse from Henry Khederian
Siyata Mobile Inc (NASDAQ:SYTA) shares dropped 27% to $2.41 after announcing a common share offering of up to $4 million with no set value per share. The final price will be determined with the placement agent and investors, without a minimum share or proceeds requirement. The placement agent will seek purchases but has no obligation for specific amounts, and the actual offering may be less than stated. The company will pay fees to the placement agent.
April 16, 2024 | 4:50 pm
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Siyata Mobile's stock price fell 27% following the announcement of a common share offering of up to $4 million, with the final offering price to be determined later.
The announcement of a common share offering typically dilutes the value of existing shares, leading to a decrease in stock price. The lack of a set price per share and the uncertainty around the final offering amount add to the negative sentiment, causing a significant drop in Siyata Mobile's stock price.
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