Los Angeles, California--(Newsfile Corp. - February 6, 2023) - SRAX, Inc. (NASDAQ: SRAX), a financial technology company that unlocks data and insights for publicly traded companies through Sequire, its SaaS platform, has acquired the assets of DNA Holdings, LLC.
DNA specializes in helping private technology companies with positioning, marketing, and strategy. The emphasis on private companies provides the expertise for SRAX to accelerate the entrance into the cap table management for private companies. The private cap table management market is anticipated to grow to over $1 Billion by 2030. This market is a natural extension of SRAX's current Sequire Platform that helps public companies manage their cap table and provides other essential services.
"We have watched the rapid growth of the Sequire business and we are excited by the prospect of bringing the DNA teams years of expertise around private transactions to the Sequire Platform." Said Brock Pierce DNA Co-Founder.
"We have always admired DNA's ability to attract some of the most notable names in the early-stage technology space. Their business infrastructure provides the ability to scale with nominal fixed costs. Along with this transaction, we will acquire a substantial amount of data about early-stage investors that will be valuable to our clients. " Said Christopher Miglino, Founder and CEO of SRAX. "A few years ago we acquired LD Micro, and what we learned from the business provided us with the know-how that enabled us to build out our virtual conferencing platform. Similarly, we envision this acquisition accelerating our entrance into the private cap table management market." Added Miglino.
"DNA and SRAX began working together in late 2017 and we have been very impressed with the business and the vision of Mr. Miglino. The DNA team is very excited to bring in an entirely new category of business which we believe perfectly fits into the SRAX model." Said Scott Walker Co-Founder of DNA.
The terms and details of the transaction will be available in the form 8K to be filed with the SEC.
About SRAX
SRAX (NASDAQ: SRAX) is a financial technology company that unlocks data and insights for publicly traded companies. Through its premier investor intelligence and communications platform, Sequire, companies can track their investors' behaviors and trends and use those insights to engage current and potential investors across marketing channels. For more information on SRAX, visit srax.com and mysequire.com.
Cautionary Statement Regarding Forward-Looking Information:
This news release contains "forward-looking statements" made pursuant to the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements relate to future, not past, events and may often be identified by words such as "expect," "anticipate," "intend," "plan," "believe," "seek" or "will." Forward-looking statements by their nature address matters that are, to different degrees, uncertain. Specific risks and uncertainties that could cause our actual results to differ materially from those expressed in our forward-looking statements include risks inherent in our business, and our need for future capital. Actual results may differ materially from the results anticipated in these forward-looking statements. Additional information on potential factors that could affect our results and other risks and uncertainties are detailed from time to time in SRAX's periodic reports filed with the SEC, including its Annual Report on Form 10-K for the year ended Dec. 31, 2021, its Quarterly Reports on Form 10-Q and in other reports filed with the SEC. We do not assume any obligation to update any forward-looking statements.
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