24/7 Market News: Core Gaming Merger Nears Critical Stage with an Eye on Q2 2025 Closing
Merger Mechanics and Timing
According to Siyata's SEC Form 6-K filed on February 26, 2025, the closing of the merger will occur remotely, three business days after all conditions in Article VI of the agreement have been satisfied or waived, unless otherwise agreed by the parties.
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Core Gaming
The filing also clarifies that the merger becomes effective only upon the submission and acceptance of the certificate of merger by the Delaware Secretary of State. No advance public notice of the effective date is required, meaning the merger could close without prior announcement.
Siyata's Commitment to Shareholders
To ensure that legacy Siyata shareholders retain at least a 10% equity stake in the post-merger company on a fully diluted basis, Siyata may issue a special stock dividend. This dividend would be declared one business day prior to the merger's effective time and payable within six months of closing.
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Siyata Mobile (NASDAQ: SYTA)
Strategic Direction and Leadership
Core Gaming's CEO, Aitan Zacharin, who will lead the combined company, highlighted in a recent AMA that the merger is designed to unlock new access to capital markets, bolster acquisition potential, and accelerate revenue growth. His goals for the combined companies is to to hit $100 million in revenue and reach profitability in 2025.
Siyata's legacy Push-to-Talk business will continue under a new subsidiary led by Marc Seelenfreund, ensuring operational continuity.
Key Watchpoints:
Core Gaming develops AI-powered free-to-play (F2P) mobile games, generating over $80 million in unaudited 2024 revenue, with more than 700 million game downloads and 43 million monthly active users (MAUs) globally.
Please click here for Core Gaming Merger Notes and Analysis, or insights from the ValueScope Report.
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24/7 MARKET NEWS, INC Disclaimer and Disclosure
247MarketNews.com has been compensated $2,500 per week by MicroCap Strategies for ongoing press and editorial coverage of Siyata Mobile. This compensation is strictly for news distribution and does not include any other services, which may be subject to separate agreements and fees. All opinions expressed are those of the author. This communication is for informational purposes only and should not be construed as investment advice or a solicitation to buy or sell securities. Readers are advised to perform their own due diligence.
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Cautionary Note Regarding Forward-Looking Statements
This press release contains forward-looking statements that are subject to various risks and uncertainties. Such statements include statements regarding the Company's ability to grow its business and other statements that are not historical facts, including statements which may be accompanied by the words 'intends,' 'may,' 'will,' 'plans,' 'expects,' 'anticipates,' 'projects,' 'predicts,' 'estimates,' 'aims,' 'believes,' 'hopes,' 'potential' or similar words. Actual results could differ materially from those described in these forward-looking statements due to a number of factors, including without limitation, the Company's ability to continue as a going concern, the popularity and/or competitive success of the Company's acquired football and other sports teams, the Company's ability to attract players and staff for acquired clubs, unsuccessful acquisitions or other strategic transactions, the possibility of a decline in the popularity of football or other sports, the Company's ability to expand its fanbase, sponsors and commercial partners, general economic conditions, and other risk factors detailed in the Company's filings with the SEC. The forward-looking statements contained in this press release are made as of the date of this press release, and the Company does not undertake any responsibility to update such forward-looking statements except in accordance with applicable law.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/255350
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