--- title: "Siyata Mobile Announces Closing of Merger with Core Gaming | SYTA Stock News" description: "Siyata Mobile has completed its merger with Core Gaming, officially closing on October 3, 2025. The combined entity is now named Core AI Holdings, Inc., with trading set to begin on October 7, 2025. A" type: "news" locale: "en" url: "https://longbridge.com/en/news/259911773.md" published_at: "2025-10-03T15:51:00.000Z" --- # Siyata Mobile Announces Closing of Merger with Core Gaming | SYTA Stock News > Siyata Mobile has completed its merger with Core Gaming, officially closing on October 3, 2025. The combined entity is now named Core AI Holdings, Inc., with trading set to begin on October 7, 2025. A reverse stock split will also take effect on the same day to meet Nasdaq's listing requirements. The new leadership includes Aitan Zacharin as CEO and Marc Seelenfreund as President. The merger aims to leverage AI technology in the mobile gaming sector, which is valued at $126 billion, to drive growth and shareholder value. - *Merger completed as of**October 3, 2025* - *New Board of Directors seated to guide strategic transformation into an AI holding company* - *Combined company renamed Core AI Holdings, Inc.* - *First day of trading scheduled for October 7, 2025* - *Reverse Stock Split to be effective on October 7, 2025* , /PRNewswire/ -- **Siyata Mobile Inc. (Nasdaq: CHAI)**("**Siyata**" or the "**Company**"), a global developer and vendor of mission-critical Push-to-Talk over Cellular (PoC) handsets and accessories, today announced the successful completion of its previously announced merger with Core Gaming, Inc. ("Core Gaming"). The merger officially closed on October 3, 2025, marking a significant milestone in the Company's strategic transformation. Core Gaming is a leading developer and publisher of immersive mobile and cloud-based gaming solutions with fiscal year 2024 revenues of $79 million. Core Gaming's success is driven by its diverse portfolio of proprietary titles, a growing global user base with over 780 million lifetime downloads,and strategic partnerships worldwide. "Core AI Holdings, Inc. will be officially launching on Tuesday as a Nasdaq-listed company following the completion of our merger," said Aitan Zacharin, CEO of Core AI Holdings, Inc. "As part of the fast-growing mobile gaming industry, we are advancing our next-generation gaming technology and believe that we are well-positioned for growth. Our strategy going forward centers around harnessing the power of artificial intelligence to build scalable offerings that expand our reach beyond gaming and into other verticals to create meaningful value for our shareholders." "At Core Gaming, we have built a strong reputation as an innovative leader in mobile gaming, a $126 billion industry today\[1\]. This next phase is aimed at accelerating the integration of artificial intelligence across our platforms. With the global AI apps market valued at $2.94 billion in 2024 and expected to grow at a 38.7% CAGR through 2030\[2\], we believe that we are in a prime position to capture significant market share by delivering AI-powered experiences that create deeper engagement and drive broader adoption. We have seen significant growth in our sector achieved by leaders such as AppLovin, and we believe Core AI Holdings has the foundation, leadership and technologyto pursue similar growth as we execute our business strategy." **Corporate Structure** Core Gaming will operate as a wholly owned subsidiary of the combined company, now renamed Core AI Holdings, Inc. Aitan Zacharin, former CEO of Core Gaming, will serve as CEO of Core AI Holdings, Inc. Marc Seelenfreund, former CEO of Siyata Mobile Inc., will serve as President of Siyata PTTInc., a wholly-owned subsidiary of Core AI Holdings, Inc. **Board of Directors** The new Board of Directors of Core AI Holdings has been appointed and consists of the following: - Aitan Zacharin, Chairman and CEO of Core Gaming and founder/operator of multiple companies across biopharma, healthcare, tech and CPG with valuations exceeding $1.5B. He has deep experience leading and scaling companies, M&A transactions, strategic alternatives, and generating shareholder value across multiple Nasdaq-listed companies. - MarcSeelenfreund, Founder and former CEO of Siyata Mobile, Inc., brings deep knowledge of the Company's legacy business and extensive public company leadership. - Luisa Ingargiolaiscurrently the CFO of Avalon GloboCare Corp., a Nasdaq-listed company. She has extensive SEC reporting and audit committee experience. - ThomasTarala, CEO and Director of Connexa Sports Technologies Inc., a Nasdaq-listed company, with 30 years of international corporate finance and law experience in New York, London, and Hong Kong and extensive SEC and Nasdaq experience. - Mordechai Stenge, Co-founder, CFO & COO of TextGrid, Ltd., with expertise in financial oversight, cost controls, governance and operational leadership. **Transaction Details** Under the terms of the agreement, Siyata issued 67,302,300of its Common Shares, no par value,on a pre-split basis, to the shareholders of Core Gaming. The number of issued Common Shares was based on an exchange ratio calculated as $160,000,000 divided by the volume-weighted average closing price of the Common Shares on the Nasdaq Stock Market LLC for the 10-day trading period immediately preceding the effective time of the merger. **Reverse Stock Split** After the completion of the merger and related issuance of the Common Shares, the Company will effect a 1-for-4 reverse stock split ("Reverse Stock Split") of the Common Shares. The Reverse Stock Split will become effective at 12:01 a.m. Eastern Time on Tuesday, October 7, 2025. At the opening of the market on October 7, 2025, the Common Shares will commence trading on the Nasdaq Capital Market on a post-split basis with the new name of Core AI Holdings, Inc., a new symbol of "CHAI," and a new CUSIP 83013Q871. The Reverse Stock Split is primarily intended to bring the Company into compliance with the $4.00 minimum bid price requirement to meet Nasdaq's initial listing requirements. The Reverse Stock Split will automatically combine and convert the 79,689,523 current outstanding Common Shares (including the shares issued to the Core Gaming shareholders) into 19,922,381 outstanding Common Shares. The Reverse Stock Split will not change the par value of the Common Shares nor the authorized number of Common Shares or shares of preferred stock or any series of preferred stock. No fractional shares will be issued in connection with the Reverse Stock Split. All fractional shares will be rounded up to the next higher whole number, at a participant level. **About Core** **AI Holdings, Inc.** Core AI Holdings, Inc.is an international AI driven mobile games developer and publisher headquartered inMiami. We create entertaining games for millions of players worldwide, while empowering other developers to deliver player-focused apps and games to enthusiasts. Core AI's mission is to harness the power of artificial intelligence to build transformative and scalable offerings across multiple verticals. Since our launch we have developed and co-developed over 2,100 games, driven over 780 million downloads, and generated a global footprint of over 40 million users from over 140 countries. Visitwww.coregaming.coto learn more. **Forward Looking Statements** This press release contains forward-looking statements within the meaning of the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995 and other Federal securities laws. Words such as "expects," "anticipates," "intends," "plans," "believes," "seeks," "estimates" and similar expressions or variations of such words are intended to identify forward-looking statements. Because such statements deal with future events and are based on Core AI's current expectations, they are subject to various risks and uncertainties and actual results, performance, or achievements of Core AI could differ materially from those described in or implied by the statements in this press release. The forward-looking statements contained or implied in this press release are subject to other risks and uncertainties, including those discussed under the heading "Risk Factors" in the Company's filings with the Securities and Exchange Commission ("SEC"), and in any subsequent filings with the SEC. Except as otherwise required by law, Core AI undertakes no obligation to publicly release any revisions to these forward-looking statements to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events. References and links to websites have been provided as a convenience, and the information contained on such websites is not incorporated by reference into this press release. * * * \[1\] https://www.statista.com/outlook/amo/media/games/mobile-games/worldwide \[2\] https://www.grandviewresearch.com/industry-analysis/ai-apps-market-report SOURCE Siyata Mobile Inc. ### Related Stocks - [SYTA.US - Siyata Mobile](https://longbridge.com/en/quote/SYTA.US.md) - [CHAI.US - Core AI](https://longbridge.com/en/quote/CHAI.US.md) ## Related News & Research | Title | Description | URL | |-------|-------------|-----| | “SaaS 已死，SaaS 到来”！Altman 预言 “全 AI 企业” 时代开启 | OpenAI CEO 奥尔特曼预言 “全 AI 企业” 将开启，AI 将从辅助工具进化为完全自主的执行者。OpenAI 产品很快将实现 100% 由 AI 编写代码，涵盖开发与决策全流程，标志着传统 “软件即服务（SaaS）” 模式向 “服 | [Link](https://longbridge.com/en/news/275993856.md) | | 15:30 ET Eerly AI 通过战略性收购 RehvUp Technologies 来加速企业生产力 | Eerly AI 已收购 RehvUp Technologies，以通过人工智能提升企业生产力。这一战略收购旨在将数据、工作流程和员工背景统一到一个平台上，使组织能够从其人工智能投资中看到切实的成果。RehvUp 在员工参与方面的专业知识与 | [Link](https://longbridge.com/en/news/275507525.md) | | AI 淘金热变成 AI 恐慌潮！华尔街新共识：躲开一切可能被颠覆的公司 | 投资者不再热衷于寻找 AI 赢家，而是急于抛售任何可能被 AI 颠覆的公司股票，这种” 先卖出、再提问” 的恐慌情绪正在从软件行业蔓延至金融服务、财富管理、保险经纪和法律服务等多个领域。宁愿错杀也不愿承担被 AI 颠覆风险的心态正在重塑华尔 | [Link](https://longbridge.com/en/news/275557016.md) | | “AI 交易” 的关键变量：服务业敞口越高，AI 颠覆风险越大，“AI 基建” 最有利 | 大摩量化研究显示，“服务业敞口” 是 AI 投资的关键变量，与收益呈显著负相关。由于市场担忧 AI 颠覆，服务业敞口高达 53% 的 “AI 采用者” 表现垫底。相反，“AI 基础设施” 敞口仅 14%，受颠覆风险最小且受益于资本支出，在六 | [Link](https://longbridge.com/en/news/275977957.md) | | 本轮 AI 大清洗，财富管理平台被错杀了？ | 随着 AI 税务规划工具的推出，财富管理平台股价承压，市场情绪恐慌。美银美林的研报指出，这一抛售是情绪化的错杀，AI 是增强而非替代顾问的工具。高净值客户仍需人类顾问的专业建议，AI 的价值在于提升效率。报告认为，具备高净值客户基础、积极嵌 | [Link](https://longbridge.com/en/news/275890826.md) | --- > **Disclaimer**: This article is for reference only and does not constitute any investment advice.