secwatch.observer — SEC 8-K summary
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Issuer:     SRAX, Inc. (—)
CIK:        0001538217
Form:       8-K
Filed at:   2023-03-07T23:59:59+00:00
Accession:  0001493152-23-006929
Event type: m_and_a
Sentiment:  neutral
Materiality: 0.75
Item codes: 1.01, 5.02, 2.01, 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1538217/000149315223006929/0001493152-23-006929-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1538217/000149315223006929/form8-k.htm
  HTML page:      https://secwatch.observer/filing/0001493152-23-006929

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer