• Live Feeds
    • Press Releases
    • Insider Trading
    • FDA Approvals
    • Analyst Ratings
    • Insider Trading
    • SEC filings
    • Market insights
  • Analyst Ratings
  • Alerts
  • Subscriptions
  • Settings
  • RSS Feeds
Quantisnow Logo
  • Live Feeds
    • Press Releases
    • Insider Trading
    • FDA Approvals
    • Analyst Ratings
    • Insider Trading
    • SEC filings
    • Market insights
  • Analyst Ratings
  • Alerts
  • Subscriptions
  • Settings
  • RSS Feeds
Dashboard
    Quantisnow Logo

    © 2025 quantisnow.com
    Democratizing insights since 2022

    Services
    Live news feedsRSS FeedsAlerts
    Company
    AboutQuantisnow PlusContactJobs
    Legal
    Terms of usePrivacy policyCookie policy

    SEC Form 8-K filed by SRAX Inc.

    5/13/24 11:34:08 AM ET
    $SRAX
    Advertising
    Consumer Discretionary
    Get the next $SRAX alert in real time by email
    false 0001538217 0001538217 2024-05-12 2024-05-12 iso4217:USD xbrli:shares iso4217:USD xbrli:shares

     

     

     

    UNITED STATES

    SECURITIES AND EXCHANGE COMMISSION

    Washington, D.C. 20549

     

    FORM 8-K

     

    Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

     

    Date of Report (Date of earliest event reported) May 12, 2024 (May 7, 2024)

     

    Commission File Number 001-37916

     

    SRAX, Inc.

    (Exact name of registrant as specified in its charter)

     

    Delaware   45-2925231

    (State or other jurisdiction

    of incorporation or organization)

     

    (I.R.S. Employer

    Identification No.)

         

    1014 S. Westlake Blvd., Suite 14-299

    Westlake Village, CA

      91361
    (Address of principal executive offices)   (Zip Code)

     

    Registrant’s telephone number, including area code (323) 205-6109

     

    Securities registered pursuant to Section 12(b) of the Act:

     

    Class A Common Stock, $0.001 par value   SRAX   N/A
    (Title of each class)   (Trading Symbol)   (Name of each exchange on which registered)

     

    Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

     

    ☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
       
    ☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
       
    ☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
       
    ☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

     

    Indicate by check mark whether the registrant is an emerging growth company as defined in in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

     

    Emerging growth company ☐

     

    If an emerging growth company, indicate by checkmark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

     

     

     

     
     

     

    Item 1.01 Entry into a Material Definitive Agreement.

     

    On May 7, 2024, SRAX, Inc., a Delaware corporation (“SRAX”), entered into a definitive Agreement and Plan of Merger (the “Merger Agreement”) with DNA Holdings Venture, Inc., a Puerto Rico corporation (“DNA”), and DNA Merger Sub, Inc., a Delaware corporation and wholly-owned subsidiary of SRAX (“Merger Sub”). Upon the terms and subject to the satisfaction of the conditions described in the Merger Agreement, including approval of the transaction by DNA’s shareholders, Merger Sub will be merged with and into DNA (the “Merger”), with DNA surviving the Merger as a wholly-owned subsidiary of SRAX. Subject to the terms and conditions of the Merger Agreement, as consideration for the Merger, SRAX shall issue to the shareholders of DNA 1,000 shares of a newly created Series C Convertible Preferred Stock of the Company (the “Preferred Stock”), which shall be convertible into approximately 75.5% of the outstanding shares of Common Stock of the SRAX upon closing of the Merger, which includes the approximately 35% of SRAX which DNA owned prior to the merger. Upon completion of the Merger, SRAX will change its name to DNA Holdings Venture, Inc.

     

    DNA is a Web3 investment company which provides both advisory services and invests in Web3 infrastructure. The company was founded by Brock Pierce, the Chairman of the Bitcoin Foundation and Scott Walker, one of the most successful investors in Web3. The DNA team has been co-founders, investors and advisors in some of the most notable Web3 projects in the world; including Tether (USDT), Blockchain Capital (Web3 Venture Fund), Hedera Hashgraph (HBAR) among many others.

     

    The Merger Agreement contains customary representations, warranties and covenants made by SRAX and DNA, including covenants relating to obtaining the requisite approvals of the shareholders of DNA, and SRAX’s and DNA’s conduct of their respective businesses between the date of signing of the Merger Agreement and the closing of the transaction.

     

    The closing is subject to satisfaction or waiver of certain conditions including, among other things, (i) the required approvals by the DNA’s shareholders, (ii) the accuracy of the representations and warranties, subject to certain materiality qualifications, (iii) compliance by the parties with their respective covenants, (iv) no law or order preventing the merger and related transactions, (iv) SRAX getting current in its reporting obligations with the Securities and Exchange Commission (the “SEC”), (v) SRAX obtaining all required third party consents, including the consents of its senior secured creditors and warrantholders, (vi) DNA entering into an exchange agreement agreeing to exchange its existing securities in SRAX for the Preferred Stock to be issued upon closing of the Merger and (v) the DNA advancing SRAX at least $500,000 on or prior to the closing of the Merger. The Merger Agreement also contains certain termination rights for both SRAX and DNA.

     

    The foregoing description of the Merger Agreement is not complete and is qualified in its entirety by reference to the Merger Agreement, which is attached hereto as Exhibit 2.1 to this report and incorporated herein by reference.

     

     
     

     

    The Merger Agreement (and the foregoing description of the Merger Agreement and the transactions contemplated thereby) has been included to provide investors and shareholders with information regarding the terms of the Merger Agreement and the transactions contemplated thereby. It is not intended to provide any other factual information about SRAX or DNA. The representations, warranties and covenants contained in the Merger Agreement were made only as of specified dates for the purposes of the Merger Agreement, were solely for the benefit of the parties to the Merger Agreement and may be subject to qualifications and limitations agreed upon by such parties. In particular, in reviewing the representations, warranties and covenants contained in the Merger Agreement and discussed in the foregoing description, it is important to bear in mind that such representations, warranties and covenants were negotiated with the principal purpose of allocating risk between the parties, rather than establishing matters as facts. Such representations, warranties and covenants may also be subject to a contractual standard of materiality different from those generally applicable to shareholders and reports and documents filed with the SEC. Investors and shareholders are not third-party beneficiaries under the Merger Agreement. Accordingly, investors and shareholders should not rely on such representations, warranties and covenants as characterizations of the actual state of facts or circumstances described therein. Information concerning the subject matter of such representations, warranties and covenants may change after the date of the Merger Agreement, which subsequent information may or may not be fully reflected in the parties’ public disclosures.

     

    Additional Information about the Proposed Merger and Where to Find It

     

    In connection with the proposed Merger, SRAX intends to file relevant materials with the SEC. Investors and security holders of SRAX are urged to read these materials when they become available because they will contain important information about SRAX, DNA and the proposed merger. Any documents filed by SRAX with the SEC, may be obtained free of charge at the SEC website at www.sec.gov. In addition, investors and security holders may obtain free copies of the documents filed with the SEC by SRAX by directing a written request to: SRAX, Inc., 1014 S Westlake Blvd Suite 14-299, Westlake Village, CA 91361. Investors and security holders are urged to read the relevant materials when they become available before making any voting or investment decision with respect to the proposed merger.

     

    This report shall not constitute an offer to sell or the solicitation of an offer to sell or the solicitation of an offer to buy any securities, nor shall there be any sale of securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction.

     

     
     

     

    Forward-Looking Statements

     

    This Report contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. SRAX and DNA generally identify forward-looking statements by terminology such as “may,” “should,” “expects,” “plans,” “anticipates,” “could,” “intends,” “target,” “projects,” “contemplates,” “believes,” “estimates,” “predicts,” “potential” or “continue” or the negative of these terms or other similar words. These statements are only predictions. SRAX and DNA have based these forward-looking statements largely on their then-current expectations and projections about future events and financial trends as well as the beliefs and assumptions of management. Forward-looking statements are subject to a number of risks and uncertainties, many of which involve factors or circumstances that are beyond each of SRAX’s and DNA’s control. SRAX’s and DNA’s actual results could differ materially from those stated or implied in forward-looking statements due to a number of factors, including but not limited to: (i) risks associated with DNA’s and SRAX’s ability to consummate the proposed merger transaction and the timing of the closing of the proposed merger transaction, including the risks that a condition to closing would not be satisfied within the expected timeframe or at all or that the closing of the proposed merger transaction will not occur; (ii) the outcome of any legal proceedings that may be instituted against the parties and others related to the merger agreement; (iii) the occurrence of any event, change or other circumstance or condition that could give rise to the termination of the merger agreement, (iv) unanticipated difficulties or expenditures relating to the proposed merger transaction, the response of business partners and competitors to the announcement of the proposed merger transaction, and/or potential difficulties in employee retention as a result of the announcement and pendency of the proposed merger transaction; and (v) those risks detailed in SRAX’s reports filed with the SEC, as well as other documents that may be filed by SRAX from time to time with the SEC. Accordingly, you should not rely upon forward-looking statements as predictions of future events. Neither SRAX nor DNA can assure you that the events and circumstances reflected in the forward-looking statements will be achieved or occur, and actual results could differ materially from those projected in the forward-looking statements. The forward-looking statements made in this communication relate only to events as of the date on which the statements are made. Except as required by applicable law or regulation, SRAX and DNA undertake no obligation to update any forward-looking statement to reflect events or circumstances after the date on which the statement is made or to reflect the occurrence of unanticipated events.

     

    Item 8.01 Other Events.

     

    On May 8, 2024, SRAX and DNA issued a joint press release announcing the execution of the Merger Agreement. A copy of the joint press release is attached hereto as Exhibit 99.1 and is incorporated by reference herein.

     

    Exhibit Number   Description
         

    1.01

     

    DNA SRAX Merger Agreement

    5.03   COD of Series C Preferred Shares
    99.1   Press Release
    104   Cover Page Interactive Data File (embedded within the Inline XBRL document)

     

     
     

     

    SIGNATURES

     

    Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this Report on Form 8-K to be signed on its behalf by the undersigned hereunto duly authorized.

     

    Date: May 12, 2024 SRAX, Inc.
         
        /s/ Christopher Miglino
      By: Christopher Miglino
        Chief Executive Officer

     

     

    Get the next $SRAX alert in real time by email

    Chat with this insight

    Save time and jump to the most important pieces.

    Recent Analyst Ratings for
    $SRAX

    DatePrice TargetRatingAnalyst
    More analyst ratings

    $SRAX
    Large Ownership Changes

    This live feed shows all institutional transactions in real time.

    See more
    • SEC Form SC 13G/A filed by SRAX Inc. (Amendment)

      SC 13G/A - SRAX, Inc. (0001538217) (Subject)

      2/14/24 2:56:29 PM ET
      $SRAX
      Advertising
      Consumer Discretionary
    • SEC Form SC 13G/A filed by SRAX Inc. (Amendment)

      SC 13G/A - SRAX, Inc. (0001538217) (Subject)

      2/13/24 7:42:04 PM ET
      $SRAX
      Advertising
      Consumer Discretionary
    • SEC Form SC 13G/A filed by SRAX Inc. (Amendment)

      SC 13G/A - SRAX, Inc. (0001538217) (Subject)

      2/14/23 3:07:08 PM ET
      $SRAX
      Advertising
      Consumer Discretionary

    $SRAX
    Insider Trading

    Insider transactions reveal critical sentiment about the company from key stakeholders. See them live in this feed.

    See more
    • Miglino Christopher bought $750 worth of SRAX Common Stock (15,000 units at $0.05), increasing direct ownership by 2% to 902,575 units (SEC Form 4)

      4 - SRAX, Inc. (0001538217) (Issuer)

      12/28/23 5:25:44 PM ET
      $SRAX
      Advertising
      Consumer Discretionary
    • SEC Form 4 filed by Urban Alan Louis

      4 - SRAX, Inc. (0001538217) (Issuer)

      3/22/23 2:57:48 PM ET
      $SRAX
      Advertising
      Consumer Discretionary
    • SEC Form 3 filed by new insider Urban Alan Louis

      3 - SRAX, Inc. (0001538217) (Issuer)

      3/22/23 2:56:42 PM ET
      $SRAX
      Advertising
      Consumer Discretionary

    $SRAX
    FDA approvals

    Live FDA approvals issued by the Food and Drug Administration and FDA breaking news

    See more
    • June 7, 2024 - FDA Roundup: June 7, 2024

      For Immediate Release: June 07, 2024 Today, the U.S. Food and Drug Administration is providing an at-a-glance summary of news from around the agency:  Today, the FDA announced that it has advised the manufacturers of the licensed and authorized COVID-19 vaccines that the COVID-19 vaccines (2024-2025 Formula) for use in the United States should be monovalent (single strain) JN.1 vaccines to more closely match cu

      6/7/24 3:46:22 PM ET
      $GERN
      $SRAX
      $SNAP
      Biotechnology: Pharmaceutical Preparations
      Health Care
      Advertising
      Consumer Discretionary
    • March 22, 2024 - FDA Roundup: March 22, 2024

      For Immediate Release: March 22, 2024 Today, the U.S. Food and Drug Administration is providing an at-a-glance summary of news from around the agency:  Today, the FDA issued an emergency use authorization for Pemgarda (pemivibart) for the pre-exposure prophylaxis (prevention) of COVID-19 in certain adults and adolescents (12 years of age and older weighing at least 40 kilograms [about 88 pounds]).  Pemgarda is

      3/22/24 5:02:42 PM ET
      $SNAP
      $SRAX
      Computer Software: Programming Data Processing
      Technology
      Advertising
      Consumer Discretionary
    • November 9, 2023 - FDA Approves First Treatment for Patients with Rare Inherited Blood Clotting Disorder

      For Immediate Release: November 09, 2023 Today, the U.S. Food and Drug Administration approved Adzynma, the first recombinant (genetically engineered) protein product indicated for prophylactic (preventive) or on demand enzyme replacement therapy (ERT) in adult and pediatric patients with congenital thrombotic thrombocytopenic purpura (cTTP), a rare and life-threatening blood clotting disorder. “The FDA remains

      11/9/23 2:30:20 PM ET
      $SRAX
      $SNAP
      Advertising
      Consumer Discretionary
      Computer Software: Programming Data Processing
      Technology

    $SRAX
    SEC Filings

    See more
    • SEC Form 10-Q filed by SRAX Inc.

      10-Q - SRAX, Inc. (0001538217) (Filer)

      4/30/25 6:18:31 AM ET
      $SRAX
      Advertising
      Consumer Discretionary
    • SEC Form 10-Q filed by SRAX Inc.

      10-Q - SRAX, Inc. (0001538217) (Filer)

      3/7/25 6:03:29 AM ET
      $SRAX
      Advertising
      Consumer Discretionary
    • SEC Form 10-K filed by SRAX Inc.

      10-K - SRAX, Inc. (0001538217) (Filer)

      9/20/24 5:29:24 PM ET
      $SRAX
      Advertising
      Consumer Discretionary

    $SRAX
    Analyst Ratings

    Analyst ratings in real time. Analyst ratings have a very high impact on the underlying stock. See them live in this feed.

    See more
    • Dawson James initiated coverage on SRAX with a new price target

      Dawson James initiated coverage of SRAX with a rating of Buy and set a new price target of $10.00

      4/19/21 9:31:00 AM ET
      $SRAX
      Advertising
      Consumer Discretionary
    • B. Riley reiterated coverage on SRAX with a new price target

      B. Riley reiterated coverage of SRAX with a rating of Buy and set a new price target of $7.50 from $4.50 previously

      2/12/21 8:22:29 AM ET
      $SRAX
      Advertising
      Consumer Discretionary
    • Ladenburg Thalmann initiated coverage on SRAX with a new price target

      Ladenburg Thalmann initiated coverage of SRAX with a rating of Buy and set a new price target of $7.00

      2/8/21 7:58:16 AM ET
      $SRAX
      Advertising
      Consumer Discretionary

    $SRAX
    Financials

    Live finance-specific insights

    See more

    $SRAX
    Press Releases

    Fastest customizable press release news feed in the world

    See more

    $SRAX
    Insider Purchases

    Insider purchases reveal critical bullish sentiment about the company from key stakeholders. See them live in this feed.

    See more
    • SRAX Reassures Investors of Business Health Amid Delisting Notice

      Los Angeles, California--(Newsfile Corp. - March 9, 2023) - SRAX, Inc. (NASDAQ:SRAX), a financial technology company that provides data and insights to publicly traded companies through its SaaS platform Sequire, would like to reassure its investors that the company's core business remains strong despite the recent delisting notice from NASDAQ. The delisting was caused by a late filing, and the company is actively working to regain compliance as soon as possible.We are pleased to report that SRAX has added over 25 new customers in the first quarter of 2023, indicating the strength of our business and the value we provide to our clients. We remain confident that this momentum will continue, a

      3/9/23 9:00:00 AM ET
      $SRAX
      Advertising
      Consumer Discretionary
    • Freedom Holding Acquires LD Micro From SRAX, Inc.

      Purchase brings pre-eminent small-cap platform to the Freedom family Freedom U.S. Markets, LLC, a wholly-owned subsidiary of Freedom Holding Corp. (NASDAQ:FRHC), announced today that it has completed the acquisition of LD Micro from SRAX, Inc. (NASDAQ:SRAX). The total consideration of $8.3 million includes $4 million in cash and FRHC common stock valued at $4.3 million. LD Micro offers two premier small-cap conferences annually, the Invitational: June 6-8 (Los Angeles) and the Main Event: October 3-5 (Los Angeles), which hosts over 200 companies and 1,000 investors. For the past 15 years, the LD Micro conferences have showcased the next big names in the small-cap world to investors and i

      3/6/23 8:00:00 AM ET
      $FRHC
      $SRAX
      Investment Bankers/Brokers/Service
      Finance
      Advertising
      Consumer Discretionary
    • SRAX Acquires DNA Holdings Assets

      Los Angeles, California--(Newsfile Corp. - February 6, 2023) - SRAX, Inc. (NASDAQ:SRAX), a financial technology company that unlocks data and insights for publicly traded companies through Sequire, its SaaS platform, has acquired the assets of DNA Holdings, LLC.DNA specializes in helping private technology companies with positioning, marketing, and strategy. The emphasis on private companies provides the expertise for SRAX to accelerate the entrance into the cap table management for private companies. The private cap table management market is anticipated to grow to over $1 Billion by 2030. This market is a natural extension of SRAX's current Sequire Platform that helps public companies m

      2/6/23 8:30:00 AM ET
      $SRAX
      Advertising
      Consumer Discretionary
    • SRAX Signs Agreement to Merge with DNA Holdings

      Westlake Village, CA, May 08, 2024 (GLOBE NEWSWIRE) -- SRAX Inc. (OTC:SRAX), a financial technology company that unlocks data and insights for publicly traded companies through its SaaS platform Sequire, announced today it has entered into a definitive merger agreement with DNA Holdings Venture Inc. pursuant to which the shareholders of DNA will become the majority owners of SRAX's outstanding common stock as more fully described below upon the closing of the merger. DNA has been a long term investor in SRAX and currently owns approximately 35% of the company.  DNA is  a Web3 investment company which provides both advisory services and invests in Web3 infrastructure. The company was foun

      5/8/24 8:00:00 AM ET
      $SRAX
      Advertising
      Consumer Discretionary
    • SRAX SELECTS XDEFI AS WEB3 WALLET PARTNER, ENABLING SECURE ACCESS TO DIGITAL ASSETS FOR ACTIVE EQUITY INVESTORS

      Los Angeles, March 05, 2024 (GLOBE NEWSWIRE) -- Los Angeles, [5 March 2024] - SRAX Inc. (OTC:SRAX), a financial technology company that unlocks data and insights for publicly traded companies through its SaaS platform Sequire, today announced it has selected XDEFI as its Web3 wallet partner. XDEFI is a pioneering multichain cryptocurrency wallet. The partnership will enable SRAX's network of active equity investors to access decentralized applications and assets spanning 200+ blockchains, seamlessly and securely. In addition, SRAX clients who download the wallet will be eligible for airdrops in $XDEFI tokens and many future token airdrops.  In 2023, over $5 billion was given away through

      3/5/24 8:30:00 AM ET
      $SRAX
      Advertising
      Consumer Discretionary
    • SRAX SHAREHOLDER LETTER

      Westlake Village, Dec. 18, 2023 (GLOBE NEWSWIRE) -- Dear Shareholders, As I write to you today, I do so with a sense of deep reflection on the year that has passed. It's been a period that tested our resilience. I want to express my sincere regret for the concerns and frustrations you may have experienced as a result of our stock price. Addressing Our Challenges Head-On Our delisting from the NASDAQ market was a moment for serious introspection. Looking back, there were areas where we should have been more proactive, especially as it relates to our accounting team's leadership and the complexities of the accounting for our business.  Bringing in new experts was a turning point for th

      12/18/23 7:00:00 AM ET
      $SRAX
      Advertising
      Consumer Discretionary
    • Miglino Christopher bought $750 worth of SRAX Common Stock (15,000 units at $0.05), increasing direct ownership by 2% to 902,575 units (SEC Form 4)

      4 - SRAX, Inc. (0001538217) (Issuer)

      12/28/23 5:25:44 PM ET
      $SRAX
      Advertising
      Consumer Discretionary

    $SRAX
    Leadership Updates

    Live Leadership Updates

    See more
    • June 7, 2024 - FDA Roundup: June 7, 2024

      For Immediate Release: June 07, 2024 Today, the U.S. Food and Drug Administration is providing an at-a-glance summary of news from around the agency:  Today, the FDA announced that it has advised the manufacturers of the licensed and authorized COVID-19 vaccines that the COVID-19 vaccines (2024-2025 Formula) for use in the United States should be monovalent (single strain) JN.1 vaccines to more closely match cu

      6/7/24 3:46:22 PM ET
      $GERN
      $SRAX
      $SNAP
      Biotechnology: Pharmaceutical Preparations
      Health Care
      Advertising
      Consumer Discretionary
    • SRAX Announces Appointment of New CFO

      Los Angeles, California--(Newsfile Corp. - March 20, 2023) - SRAX, Inc. (NASDAQ:SRAX), a leading financial technology company, has announced the appointment of Alan Urban as the CFO of SRAX. Mr. Urban has over 30 years of experience in corporate finance and accounting. He has previously served in numerous senior management positions, most notably as Chief Financial Officer for ten years at Research Solutions, a provider of SaaS solutions for life science organizations. Mr. Urban also serves on the Board of Directors of GT Biopharma."We are excited to have Alan step into this very important role at SRAX. We believe his 30 years of expertise will be instrumental in getting our accounting t

      3/20/23 9:00:00 AM ET
      $SRAX
      Advertising
      Consumer Discretionary
    • ICOA Inc. Appoints SRAX to Enhance Investor Communications

      LAS VEGAS, NEVADA , April 14, 2022 (GLOBE NEWSWIRE) -- Publicly traded Nevada blockchain, decentralized finance (DeFi), and cryptocurrency-focused investment company ICOA Inc. (OTC:ICOA) announced this week that they have entered a $500,000 deal with SRAX (NASDAQ:SRAX) to maximize and accelerate its communications for interested investors, shareholders, and supporters. Through SRAX, a publicly traded company offering premier operating system tools for publicly traded companies, ICOA will have the ability to further reach its community through sophisticated solutions to assist it in maintaining, communicating, and expanding its shareholder base. With Sequire, a product of SRAX, IC

      4/14/22 9:42:39 AM ET
      $SRAX
      Advertising
      Consumer Discretionary