LOS ANGELES, April 8, 2019 /PRNewswire/ -- Social Reality,
Inc. (Nasdaq: SRAX), a digital marketing and consumer data
management and distribution technology platform company, today
announced that it has entered into definitive agreements with
investors for the purchase of 1,650,000 shares of its Class A
common stock, at a purchase price per share of $4.00, in a registered direct offering. The
closing of the offering is expected to take place on or about
April 10, 2019, subject to the
satisfaction of customary closing conditions.
WestPark Capital, Inc. acted as placement agent with this
offering.
The gross proceeds to Social Reality, before deducting placement
agent fees and other offering expenses, are expected to be
$6.6 million. Social Reality intends
to use the net proceeds from this offering for general working
capital.
The shares of Class A common stock are being offered by Social
Reality pursuant to a "shelf" registration statement on Form S-3
that was filed and declared effective by the Securities and
Exchange Commission ("SEC") on November 28,
2016, and the base prospectus contained therein (File No.
333-214644). The offering of the shares of common stock will be
made only by means of a prospectus supplement and accompanying base
prospectus that form a part of the registration statement.
A final prospectus supplement and accompanying base prospectus
relating to the shares of common stock being offered will be filed
with the SEC. Copies of the final prospectus supplement and
accompanying base prospectus may be obtained, when available, on
the SEC's website at http://www.sec.gov or by contacting WestPark
Capital, Inc. at 1900 Avenue of the Stars, 3rd Floor,
Los Angeles, CA 90067, by phone at
310-843-9300 or e-mail at ckaufman@wpcapital.com.
This press release shall not constitute an offer to sell, or the
solicitation of an offer to buy any of the securities described
herein, nor shall there be any sale of these securities in any
state or jurisdiction in which such an offer, solicitation or sale
would be unlawful prior to registration or qualification under the
securities laws of any such state or jurisdiction.
About SRAX
Social Reality, Inc. (NASDAQ: SRAX) is a
digital marketing and consumer data management and distribution
technology platform company. SRAX's technology delivers the tools
to unlock data to reveal brands and content owners' core consumers
and their characteristics across marketing channels. Through its
blockchain identification graph technology platform, BIG
(www.bigtoken.com), SRAX is developing a consumer-powered data
marketplace where people can own and sell access to their data
thereby users' choice, transparency, and compensation. SRAX's
technology and tools deliver a digital competitive advantage for
brands in the CPG, automotive, sports 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.
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, 2017, 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 Social Reality
and are difficult to predict. Social Reality undertakes no
obligation to publicly update any forward-looking statements,
whether as a result of new information, future events or
otherwise.
Contact Information:
Kirsten Chapman, LHA Investor
Relations, +1 415 433 3777, srax@lhai.com
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SOURCE SRAX