SRAX signs definitive merger agreement with DNA Holdings; DNA shareholders to get ~75.5% of SRAX common stock

SRAX, Inc.

SRAX will issue 1,000 shares of Series C Preferred Stock convertible into ~75.5% of SRAX common stock upon closing.
DNA currently owns ~35% of SRAX; the combined company will be renamed DNA Holdings Venture Inc.
Closing conditions include DNA advancing at least $500,000 to SRAX and SRAX becoming current on SEC filings.
Christopher Miglino will remain CEO of the combined entity; the boards of both companies unanimously approved the deal.

item 1.01 item 8.01

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

SRAX, Inc. entered into Agreement and Plan of Merger with DNA Holdings Venture, Inc. (effective 2024-05-07).

Action: entry
Agreement: merger
Counterparty: DNA Holdings Venture, Inc.
Effective: 2024-05-07

Exact text from the filing

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”).

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Source: SEC EDGAR

accession 0001493152-24-018824

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