Business Fintech News

SRAX Sells Remaining MD Ownership Stake for $8M

SRAX Sells Remaining MD Ownership Stake for $8M
MD asset with Zero Basis on Balance Sheet Sold

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 sold its remaining interest in the SRAX MD asset.

Read More: Prime Trust Launches Proprietary Core Banking Software for Fractional Assets, Including Cryptocurrency

“Our SEQUIRE platform is rapidly growing and we are focused on the continued expansion of this business. We believe that selling the MD ownership stake at this time reinforces our goal of being 100% focused on providing our platform and services to public companies,” said Christopher Miglino, Founder and CEO of SRAX. “This capital will be effective in helping us accelerate growth. This asset currently sits on our balance sheet with a zero basis, so this capital will go directly to improving our balance sheet. This transaction combined with moving Bigtoken to its own public company brings clarity to our mission going forward,” added Miglino.

Read More: New Study Finds 70% of Consumers Would Leave Their Bank For One That Properly Identifies Themselves When Calling

Related posts

iCapital Network Announces Relationship with Bridgewater Associates

Fintech News Desk

Manufactured Housing Properties Appoints Financial Services Industry Veteran Bill Boscow as Executive Vice President, Capital Markets

Fintech News Desk

Cetera and Riskalyze Form Strategic Alliance to Create Best in Class Risk Management Ecosystem for Financial Professionals

Fintech News Desk
1