SRAX Announces Closing of LD Micro Acquisition
September 16 2020 - 7:00AM
Business Wire
SRAX, Inc. (NASDAQ: SRAX), a financial technology company that
unlocks data and insights for publicly traded companies through
Sequire, its SaaS platform, announced that it has closed the
acquisition of LD Micro, a leading data and event company serving
the small and micro-cap space.
As consideration for the acquisition, SRAX (i) issued 1,600,000
shares of Class A common stock that are subject to lock-up for
thirty-six (36) months to shareholders of LD Micro and (ii) will
pay four (4) $1,000,000 quarterly installments with the first
payment made at the closing.
LD Micro will be a wholly-owned subsidiary of SRAX and will
continue to employ Christopher Lahiji, its founder, as president.
Mr. Lahiji has also been appointed to the board of directors of
SRAX.
A more comprehensive description of the terms and conditions of
the transaction are disclosed, and copies of the transaction
documents are filed, in the Company’s current report on Form 8-K
filed with the Securities Exchange Commission on September 11,
2020, which is available on the Company’s website and at
www.sec.gov.
About SRAX
SRAX (NASDAQ: SRAX) is a financial technology company that
unlocks data and insights for publicly traded companies. Through
its premier investor intelligence and communications platform,
Sequire, companies can track their investors’ behaviors and trends
and use those insights to engage current and potential investors
across marketing channels. For more information on SRAX, visit
srax.com and mysequire.com
About LD Micro
LD Micro was founded in 2006 with the sole purpose of being an
independent resource in the microcap space. What started out as a
newsletter highlighting unique companies has transformed into
several virtual and in-person events hosted annually. For more
information on LD Micro, visit ldmicro.com.
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Natalie Santos investors@srax.com
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