secwatch.observer — SEC 8-K summary
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Issuer:     SRAX, Inc. (—)
CIK:        0001538217
Form:       8-K
Filed at:   2023-02-09T23:59:59+00:00
Accession:  0001493152-23-004126
Event type: m_and_a
Sentiment:  neutral
Materiality: 0.75
Item codes: 1.01, 1.02, 2.01, 3.02, 3.03, 5.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

SRAX acquires ~$4M in assets from DNA Holdings, issues common & Series B preferred; Brock Pierce is interested director
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- Acquired assets valued at ~$4.0M from DNA Holdings, including $1M cash, crypto assets, equity investments in 3 private companies, and customer database.
- Upfront consideration: 1,313,127 common shares and 63,743 Series B Preferred shares (convertible at $1.00); 54,908 additional Series B shares placed in escrow.
- Series B Preferred non-voting; initial conversion price $1.00; stated value $48.00; conversion subject to stockholder approval; 540-day lock-up on seller shares.
- Amended agreements with ATW funds: reduced warrant exercise prices to $1.00, extended debenture maturity to June 2024, modified credit facility terms.
- Terminated registration rights agreement with one ATW holder as part of amendment and waiver.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1538217/000149315223004126/0001493152-23-004126-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1538217/000149315223004126/form8-k.htm
  HTML page:      https://secwatch.observer/filing/0001493152-23-004126

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