---
schema_version: "secwatch.filing_event.v1"
accession: "0001493152-23-006929"
form_type: "8-K"
ticker: null
cik: "0001538217"
company_name: "SRAX, Inc."
filed_at: "2023-03-07T23:59:59+00:00"
generated_at: "2026-06-18T09:40:05.832211+00:00"
event_type: "m_and_a"
sentiment: "neutral"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# SRAX sells LD Micro to Freedom Holding Corp for $8.3M; board member resigns

## Summary
- Consideration includes $4M cash and 59,763 shares of FRHC common stock valued at $4.3M.
- Christopher Lahiji resigned from the board immediately upon closing of the merger.
- Company to use 15% of cash proceeds for stock buybacks at <$5.00 per share and 10% to pay down senior secured debt.
- SRAX retains exclusive four-year sponsorship rights for LD Micro events including streaming and digital marketing.
- Sale allows SRAX to focus on its Sequire conferencing platform; next event is investor summit in Puerto Rico April 24-26, 2023.

## SEC filing metadata
- accession: 0001493152-23-006929
- form_type: 8-K
- cik: 0001538217
- company_name: SRAX, Inc.
- filed_at: 2023-03-07T23:59:59+00:00
- event_type: m_and_a
- sentiment: neutral
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 1.01, 5.02, 2.01, 8.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1538217/000149315223006929/0001493152-23-006929-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1538217/000149315223006929/form8-k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001493152-23-006929
- JSON: https://secwatch.observer/filing/0001493152-23-006929.json
- Plain text: https://secwatch.observer/filing/0001493152-23-006929.txt

## Key facts
- Executive change
  Christopher Lahiji resigned as member of the Board at SRAX, Inc..
  - Action: resigned
  - Role: member of the Board
  source text: On March 3, 2023, in connection with the consummation of the Merger, Christopher Lahiji, President of LD Micro and member of our Board, resigned as a member of the Board pursuant to a resignation letter, effective immediately.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1538217/000149315223006929/0001493152-23-006929-index.htm
- M&A Transactions
  SRAX, Inc. completed a disposition involving Freedom Holding Corp. (Parent), Freedom U.S. Markets, LLC (Buyer), LDM Merger Sub, Inc. (Merger Sub) for $8,300,000 in consideration, consisting of $4,000,000 in cash and 59,763 shares of the Parent's common stock (closed 2023-03-03).
  - Action: disposition
  - Counterparty: Freedom Holding Corp. (Parent), Freedom U.S. Markets, LLC (Buyer), LDM Merger Sub, Inc. (Merger Sub)
  - Consideration: $8,300,000 in consideration, consisting of $4,000,000 in cash and 59,763 shares of the Parent's common stock
  - Closing: 2023-03-03
  source text: Section 368(a) of the Internal Revenue Code of 1986, as amended. At the Closing, as consideration for the sale of LD Micro by means of the Merger, the Buyer paid the Company $8,300,000 in consideration, consisting of $4,000,000 in cash (the “Cash Payment”), and 59,763 shares of the Parent’s common stock, par value $0.001 per share (the “Parent Common Stock”),
  evidence_url: https://www.sec.gov/Archives/edgar/data/1538217/000149315223006929/0001493152-23-006929-index.htm
- Material Agreements
  SRAX, Inc. entered into Agreement and Plan of Merger with Freedom Holding Corp., Freedom U.S. Markets, LLC, LDM Merger Sub, Inc. (effective 2023-03-03).
  - Action: entry
  - Agreement: merger
  - Counterparty: Freedom Holding Corp., Freedom U.S. Markets, LLC, LDM Merger Sub, Inc.
  - Effective: 2023-03-03
  source text: On March 3, 2023 (the “Closing Date”), SRAX, Inc. (the “Company”) entered into and consummated the transactions contemplated by the Agreement and Plan of Merger (the “Merger Agreement”) with Freedom Holding Corp., a Nevada corporation (the “Parent”), Freedom U.S. Markets, LLC, a Delaware limited liability company and wholly-owned subsidiary of the Parent (the “Buyer”), LDM Merger Sub, Inc., a Delaware corporation and wholly-owned subsidiary of the Buyer (“Merger Sub”), LD Micro, Inc., a Delaware corporation and wholly-owned subsidiary of the Company (“LD Micro”), to sell LD Micro, a small cap platform and conference provider.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1538217/000149315223006929/0001493152-23-006929-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.