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Siyata Mobile Stock Surges on $6m Investment By Lind Partners -Breaking

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© Reuters.

Sam Boughedda

Investing.com — Siyata Mobile Inc (NASDAQ:) shares jumped 109% after word it has signed a $6 million funding agreement with Lind Global Partners II, an investment fund managed by The Lind Partners.

Lind invested $7.2million in a convertible note worth $7.2 million with a 24-month maturity and a 0% annual rate of interest. The note can be converted into company shares for $10.

Siyata Cellular Communications provider is required by law to make 18 equal monthly payments of principal either in cash, or in shares. Lind will be eligible for over 2.1million warrants, which can be exercisable up to 60-months at $4 per share. 

Marc Seelenfreund CEO, Siyata stated that “we are delighted to have The Lind Partners as an important investor in Siyata” 

You can expect the funds to be available within 10 working days from the date of execution.

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