secwatch.observer — SEC 8-K summary
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Issuer:     SRAX, Inc. (—)
CIK:        0001538217
Form:       8-K
Filed at:   2024-05-13T23:59:59+00:00
Accession:  0001493152-24-018824
Event type: m_and_a
Sentiment:  neutral
Materiality: 0.85
Item codes: 1.01, 8.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1538217/000149315224018824/0001493152-24-018824-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1538217/000149315224018824/form8-k.htm
  HTML page:      https://secwatch.observer/filing/0001493152-24-018824

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