Siyata Mobile Provides Additional Commentary Regarding the Terms of Its Proposed Merger with Core Gaming
On February 26, Siyata Mobile disclosed additional details regarding its merger agreement with Core Gaming, which is valued at $160 million based on a fairness opinion from ValueScope.
The merger agreement includes a special provision for existing Siyata shareholders. It states that legacy shareholders will get a one-time stock dividend within six months of the merger closing, which ensures that they maintain at least 10% ownership of the combined entity post-merger.
The deal is expected to be executed in Q2 2025, which is subject to regulatory approvals and customary closing conditions.
The Board of Directors of Siyata got a fairness opinion from ValueScope, LLC, a Marshall & Stevens company, which confirmed that the merger consideration to be paid by Siyata to acquire Core Gaming is fair to Siyata from a financial point of view, based on a valuation of Core Gaming of $160 million.
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