NetworkNewsBreaks – SRAX Inc. (NASDAQ: SRAX) Finalizes Acquisition of LD Micro
SRAX (NASDAQ: SRAX), a financial technology company that unlocks data and insights for publicly traded companies, has closed its previously announced agreement to acquire LD Micro, a leading data and event company serving the small and micro-cap space. Closing of the acquisition includes the issuing to LD Micro shareholders of 1.6 million shares of Class A common stock that are subject to lock-up for 36 months. In addition, SRAX will pay four $1 million quarterly installments; the first payment was made at closing. As a result, LD Micro will be a wholly owned subsidiary of SRAX. LD Micro founder and president Chris Lahiji will continue to serve in that capacity. In addition, Lahiji has been appointed to SRAX’s board of directors.
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