SRAX Announces Closing of LD Micro Acquisition
Summary
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. 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. For more information on SRAX, visit srax.com and mysequire.com 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.