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.
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