Denver, Colorado--(Newsfile Corp. - July 11, 2025) - 247marketnews.com, a pioneer in digital media dedicated to the swift distribution of financial market news and information, reports that Siyata Mobile (NASDAQ: SYTA) filed a Form 6-K with the U.S. Securities and Exchange Commission (SEC), providing a significant update on its $185 million merger with Core Gaming, an AI-driven gaming innovator, which is pending Nasdaq approval.
This transformative deal is designed to leverage Core Gaming's 43 million monthly active users (MAUs) and innovative AI COMIC App.
The Form 6-K filing, filed on July 10, 2025, provides investors with critical updates on its financial standing, business operations, and material events, including audited and unaudited financial statements for Core Gaming, as well as pro forma combined financials for Siyata and Core Gaming.
The Form 6-K filing, which is commonly used by foreign private issuers to disclose material events and provide current updates to investors, is widely viewed as a strong indication that the merger is imminent. While the merger has not yet been formally declared complete, industry sources have reported that the transaction may have already closed or is in its final stages of execution.
Aitan Zacharin, Core Gaming's CEO and slated leader of the combined company, emphasized, during a May 15, 2025, AMA, "We are committed to honoring legacy Siyata shareholders with a guaranteed 10% equity post-merger. Our long-term strategy is focused on delivering value across the entire shareholder base. Our goal-though not a forecast-is to exceed $100 million in revenue in 2025 and to have the consolidated company profitable."
Form 6-K vs. Form 8-K: Understanding the Regulatory Framework
- Form 6-K is a report used by foreign private issuers to furnish important information to U.S. investors. This includes updates on financial performance, business developments, and material events that could affect the value of the issuer's securities.
- Form 8-K, on the other hand, is typically filed by U.S.-domiciled issuers and is required when disclosing major corporate events such as mergers and acquisitions, changes in executive leadership, amendments to company bylaws, or changes in control. For the Siyata-Core Gaming merger to be officially confirmed as complete under SEC rules, the appropriate disclosure would be filed via Form 8-K.
Merger Overview: Siyata Mobile and Core Gaming
The merger between Siyata Mobile and Core Gaming represents a pivotal transformation in Siyata's business model. Previously focused on communications hardware for enterprise and emergency services, Siyata is now poised to enter the $28 billion AI-powered gaming and digital entertainment market.
Core Gaming: A Rising Force in AI Gaming
Core Gaming's portfolio consists of more than 2,100 games, boasting over 790 million cumulative downloads and an impressive 43 million monthly active users (MAUs). Its newly launched AI COMIC App, which enables users to create visual content using advanced AI tools, is already gaining traction with strong monetization and user retention metrics.
The company's financial trajectory is equally compelling:
- $13.2M revenue in 2021
- $38.9M in 2022
- $57.0M in 2023
- Estimated $80.8M in 2024
This merger will create a diversified and technology-driven digital entertainment company positioned to capture market share in the fast-growing AI and gaming sectors.
Shareholder Impact: Legacy SYTA Shareholders Maintain Significant Stake
As part of the merger structure, legacy shareholders of Siyata Mobile are guaranteed to retain at least 10% ownership of the combined company. This strategic arrangement ensures that current investors in Siyata will continue to benefit from the upside potential and long-term value creation expected from the newly combined entity.
For more information, please visit www.siyatamobile.com or refer to the latest SEC filings at www.sec.gov.
Please click here for a Deeper Dive on MAU Valuation Models, or insights from the ValueScope Report.
Core Gaming
About Core Gaming
Core Gaming is an international AI-driven mobile games and applications developer headquartered in Miami, Florida. The company has developed and co-developed over 2,100 games, driven more than 780 million downloads, and reached more than 43 million monthly active users across 140 countries. Core's mission is to build globally scalable AI products that power entertainment, productivity, and creative expression.
For more information on Core Gaming's latest developments and offerings, visit www.coregaming.co.
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