Sep. 7 at 3:34 PM
$SYTA ELOCs are discretionary for the issuer. If Siyata sends no drawdown notices, Hudson buys nothing. There’s no penalty for not using the line. The
$18M is a ceiling, not an obligation. They can use none, some, or all. File a 6-K if they formally terminate. Early termination usually has no fee, or a nominal admin condition. (Some variants auto-terminate at expiry, upon a change of control, loss of registration effectiveness, etc.). Management has enough $$$ to last them several months until merger closes ( pending approval).
