- SRAX’s subsidiary BIGtoken to enter merger with Britepool, company providing identity resolution and verification services for advertisers and publishers
- SRAX expects transaction to benefit company’s shareholders with exchange of its shares for preferred shares with blockers at 4.99% and or 9.99%
- Combined entity boasts highly experienced management team, appears poised to provide next-gen privacy-focused solutions
SRAX (NASDAQ: SRAX), a financial technology company focused on improving communications between public companies and their investors, has recently announced the merger between its subsidiary Force Protection Video Equipment Corp. (“FPVD”), also known as BIGtoken, and Britepool, an identity resolution and verification service for advertisers and publishers (https://ibn.fm/g0QqH). As part of the transaction, SRAX is expected to exchange its approximately 150 billion shares for preferred shares with blockers at 4.99% and or 9.99%. This move will allow the company to recognize the value of the asset on its balance sheet without the need to consolidate BIGtoken’s operating results. It will also allow company’s investors to recognize the true operating performance of the Sequire, its software-as-a-service platform that unlocks data and insights for publicly traded companies.
SRAX expects the transaction, which is awaiting regulatory approval, to benefit the company’s shareholders. “The movement of our position to a preferred share, which is currently worth a significant amount of money, will be very beneficial for our shareholders. The market will now be able to…
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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