LOS ANGELES, March 5, 2020 /PRNewswire/ -- SRAX, Inc.
(NASDAQ: SRAX), a digital marketing and consumer data management
technology company, today announced it entered into a secured term
loan with an affiliate of B. Riley Financial, Inc. ("B. Riley"), a
diversified financial services company which provides comprehensive
business advisory and capital markets solutions through its
subsidiaries.
"We are excited to partner with B. Riley. The team is
experienced and will help us take the next steps in executing our
plan," said Christopher Miglino,
Founder and CEO of SRAX. "This financing will help fuel growth as
both BIGtoken.com and SRAXir.com are gaining traction in their
goals to be the leaders in their respective data businesses."
"We're pleased to provide SRAX with necessary financing to
support its growth. The shifting privacy landscape has required
brands and marketers to embrace new technology to reach desired
consumer groups, and we believe SRAX is well positioned to
capitalize on this opportunity," said Bryant Riley, Chairman and Co-Chief Executive
Officer of B. Riley Financial.
Details of the transaction can be found in the Company's Current
Report on Form 8-K, which will be filed with the SEC.
About SRAX
SRAX (NASDAQ: SRAX) is a digital marketing and consumer data
management technology company. SRAX's technology unlocks data to
reveal brands' core consumers and their characteristics across
marketing channels. Monetizing its data sets, SRAX is growing
multiple recurring revenue streams through its various platforms.
Through its BIGtoken platform, SRAX has developed a
consumer-managed data marketplace where people can own and earn
from their data thereby offering everyone in the Internet ecosystem
choice, transparency, and compensation. SRAX's tools deliver a
digital competitive advantage for brands in the CPG, investor
relations, luxury, and lifestyle verticals by integrating all
aspects of the advertising experience, including verified consumer
participation, into one platform. For more information on SRAX,
visit www.srax.com.
About BIGtoken
BIGtoken, built by SRAX (NASDAQ: SRAX), is a consumer data
management and distribution system. BIG is the first
consumer-managed data marketplace where people can own and earn
from their data. Through a transparent platform and consumer reward
system, BIG offers consumers choice, transparency, and compensation
for their data. Participating consumers earn rewards, and
developers are able to build pro-consumer online experiences on top
of the BIG platform. The system also provides advertisers and media
companies access to transparent, verified consumer data to better
reach and serve audiences. For more information on BIGtoken, visit
www.bigtoken.com.
Safe Harbor Statement
This press release contains
certain forward-looking statements that are based upon current
expectations and involve certain risks and uncertainties within the
meaning of the U.S. Private Securities Litigation Reform Act of
1995. Words or expressions such as "anticipate," "plan," "will,"
"intend," "believe" or "expect'" or variations of such words and
similar expressions are intended to identify such forward-looking
statements. These forward-looking statements are not guarantees of
future performance and are subject to risks, uncertainties, and
other factors, some of which are beyond our control and difficult
to predict and could cause actual results to differ materially from
those expressed or forecasted in the forward-looking statements,
including, without limitation, statements made with respect to
expectations of our ability to increase our revenues, satisfy our
obligations as they become due, report profitable operations and
other risks and uncertainties as set forth in our Annual Report on
Form 10-K for the year ended December 31,
2018, and our subsequent Quarterly Reports on Form 10-Q as
filed with the Securities and Exchange Commission. All
forward-looking statements involve significant risks and
uncertainties that could cause actual results to differ materially
from those in the forward-looking statements, many of which are
generally outside the control of SRAX and are difficult to predict.
SRAX undertakes no obligation to publicly update any
forward-looking statements, whether as a result of new information,
future events or otherwise.
Investor Relations Contact
Kirsten Chapman, LHA Investor Relations,
415-433-3777, srax@lhai.com
Corporate Communications Contact
NetworkWire (NW),
New York, New York, 212.418.1217,
Editor@NetworkWire.com
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SOURCE SRAX