SRAX Announces Closing of LD Micro Acquisition
SRAX, Inc. (NASDAQ: SRAX), a financial technology company that unlocks data and insights for publicly traded companies through Sequire, its SaaS (News - Alert) 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.
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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