Siyata Mobile Inc (NASDAQ:SYTA) shares are trading lower after the company priced a 50 million share offering at $0.045 per share.

The gross proceeds of the offering to the company, before deducing placement agent fees and commissions and other offering expenses, are expected to be approximately $2.25 million.

The offering is set to close on or about June 28, subject to customary closing conditions.

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According to data from Benzinga Pro, SYTA has a 52-week high of $1.32 and a 52-week low of $0.05.