SRAX Announces Q4 Shares Repurchased and Dividend Payment

Rhea-AI Summary

SRAX, a financial technology company, reported a share buyback of approximately $800K, equating to 155,000 shares at an average price of $5.12, as part of its $10 million buyback program initiated in August 2021. Additionally, the company is set to make dividend payments in the form of preferred shares, totaling around $380K from securities sold. Shareholders will receive a cash dividend of $0.01 per preferred share on January 30, 2022. SRAX aims to optimize its capitalization table to enhance shareholder value.

Positive

• Successful repurchase of 155,000 shares worth $800K, part of a $10 million buyback program.
• Dividend payout of $0.01 per preferred share scheduled for January 30, 2022, enhancing shareholder returns.

Negative

• None.

LOS ANGELES, Jan. 18, 2022 (GLOBE NEWSWIRE) -- via InvestorWire -- SRAX, Inc. (NASDAQ: SRAX), a financial technology company that unlocks data and insights for publicly traded companies through Sequire, its SaaS platform, has announced the quantity of shares repurchased in the fourth quarter of 2021, as well as the first payment being made for the previously issued dividend.

Throughout the three months preceding December 31st, 2021, the Company repurchased approximately $800K worth of stock made up of 155,000 thousand shares of common stock at an average price of $5.12 per share. This was part of the Company’s $10 million share buyback program announced on August 17, 2021.

On September 13, 2021, SRAX announced a dividend to be paid to the holders of SRAX common stock on September 20, 2021. The dividend was paid in the form of preferred shares. The preferred shares hold shares from SRAX clients that are sold from time to time. As the shares are sold, the proceeds are to be paid 30 days after the end of each quarter. Through the end of the fourth quarter, we sold approximately $380K of these securities. Each holder of the preferred shares will receive a cash payment of $0.01 per share on or around January 30th, 2022.

“We continue to optimize our cap table and return value to our shareholders,” said Christopher Miglino, Founder and CEO of SRAX. “This quarter we re-filed our already existing shelf. This allowed us to eliminate our At The Market filing (ATM) and the costs associated with it. We will continue to look for opportunities to reward our shareholders,” added Miglino.

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 Securities and Exchange Commission (SEC), including its Annual Report on Form 10-K for the year ended December 31, 2020, its Quarterly Reports on Form 10-Q as well as and in other reports filed with the SEC. We do not assume any obligation to update any forward-looking statements.

Contact

Bri Kelvin

Investors@srax.com

Corporate Communications
IBN (InvestorBrandNetwork)
Los Angeles, California
www.InvestorBrandNetwork.com
310.299.1717 Office
Editor@InvestorBrandNetwork.com

FAQ

What was the total value of SRAX's share buyback in Q4 2021?

SRAX repurchased approximately $800K worth of stock in Q4 2021.

How many shares did SRAX repurchase during the buyback?

SRAX repurchased 155,000 shares during the buyback.

When will SRAX shareholders receive their dividend payment?

Shareholders will receive the cash payment of $0.01 per preferred share on or around January 30, 2022.

What is the purpose of SRAX's share buyback program?

The buyback program aims to optimize the company's capitalization table and return value to shareholders.

What was the average price of shares repurchased by SRAX?

The average price of shares repurchased by SRAX was $5.12 per share.