SRAX (NASDAQ: SRAX), a digital marketing and consumer data management technology company, on Tuesday announced the closing of its previously disclosed $13 million private placement of senior secured convertible debentures at a fixed conversion price of $2.69. The Company received $9.1 million in net proceeds from the offering after deducting placement agent and legal fees, the repayment of loans and other estimated expenses. SRAX intends to use the proceeds to fund the rapid expansion of its investor intelligence, data analytics and communications platform, Sequire, as well as to pay back a $2.5 million outstanding secured term loan and other outstanding obligations.
To view the full press release, visit http://ibn.fm/JHD0H
About SRAX
SRAX (NASDAQ: SRAX) is a digital marketing and consumer data management technology company. SRAX’s technology unlocks data for brands in the CPG, investor relations, luxury, and lifestyle verticals. Through its various platforms, SRAX is monetizing its data sets and growing multiple recurring revenue streams. BIGtoken is a consumer-managed data marketplace where people can own and earn from their data. The platform also provides advertisers and media companies access to transparent, verified consumer data to better reach and serve audiences. Sequire is a premier platform for investor intelligence and communication. Through Sequire, public 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 and its verticals, visit www.SRAX.com.
NOTE TO INVESTORS: The latest news and updates relating to SRAX are available in the company’s newsroom at http://ibn.fm/SRAX
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