Siyata to Enter $126B Mobile Gaming Market via Core Gaming Merger

Telecom Meets Gaming: Siyata’s Bold Entry into the $126B Market.

Siyata Mobile, a cellular communications provider, is finalizing a $160 million reverse merger with game developer Core Gaming. This move will transition Siyata into the $126 billion mobile gaming sector, with Core Gaming’s shareholders potentially acquiring up to 90% ownership in the newly merged company.

Siyata’s existing shareholders are assured a minimum 10% stake, possibly through a special stock dividend. Core Gaming CEO Aitan Zacharin will lead the combined company, aiming for $100 million in revenue and profitability by 2025. Siyata’s Push-to-Talk division will remain operational as a subsidiary under Marc Seelenfreund.

As detailed in Siyata’s SEC filing, the deal will be completed remotely within three business days of meeting the conditions outlined in Article VI, unless both parties decide otherwise. No public notice is required for the closing, and the official merger date will be set when the merger certificate is filed with the Delaware Secretary of State.

To secure the 10% minimum for Siyata’s legacy shareholders, the company may issue a stock dividend on current shares one day before the merger’s effective date, with distribution to follow within six months after closing.

Source: PocketGamer