SRAX to Issue a One-Time Special Dividend on September 20th, 2021

Rhea-AI Summary

SRAX, a financial technology company, announced a one-time special dividend to shareholders of record on September 20th. In Q2 2021, SRAX reported revenues of $7.7 million, marking a 557% year-over-year increase and a 41% rise quarter-over-quarter. The company's Sequire bookings reached $11.4 million. Additionally, SRAX initiated a $10 million stock buy-back program. Shareholders will receive non-tradable preferred shares including $6.5 million worth of Sequire client stock, with proceeds distributed periodically as the shares are sold.

Positive

• Revenue of $7.7 million for Q2 2021, up 557% year-over-year.
• Sequire bookings of $11.4 million reported in Q2 2021.
• Initiation of a $10 million stock buy-back program.
• One-time special dividend announced for shareholders.

Negative

• None.

LOS ANGELES--(BUSINESS WIRE)-- SRAX, Inc. (NASDAQ: SRAX), a financial technology company that unlocks data and insights for publicly traded companies through Sequire, its SaaS platform, announced they will be issuing a one-time special dividend to shareholders of record on the 20th of September.

In their Q2 2021 earnings report, the Company reported Q2 revenue of $7.7M, up 557% year-over-year, 41% sequentially quarter-over-quarter; in addition to Q2 Sequire bookings of $11.4M. Following their earnings report and exponential growth, SRAX also announced a $10M stock buy-back program and a one-time special dividend to be issued to shareholders of record on September 20th.

SRAX will be issuing non-tradable preferred shares to shareholders of record on September 20th. The preferred shares will hold approximately $6.5M worth of Sequire clients stock, and as the shares are sold, the proceeds will be distributed to the preferred shareholders periodically.

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, 2019, its Quarterly Reports on Form 10-Q as well as in other reports filed with the SEC. We do not assume any obligation to update any forward-looking statements.

View source version on businesswire.com: https://www.businesswire.com/news/home/20210913005125/en/

Bri Kelvin

investors@srax.com

Source: SRAX, Inc.

FAQ

What is the special dividend amount for SRAX shareholders?

SRAX has announced a one-time special dividend, but the specific amount is not mentioned in the press release.

When will SRAX pay the special dividend?

The special dividend will be paid to shareholders of record on September 20th.

What are the Sequire bookings reported by SRAX in Q2 2021?

In Q2 2021, SRAX reported Sequire bookings of $11.4 million.

What was SRAX's revenue in Q2 2021?

SRAX reported revenue of $7.7 million for Q2 2021, a 557% increase year-over-year.

What is the significance of the preferred shares issued by SRAX?

SRAX will issue non-tradable preferred shares worth approximately $6.5 million in Sequire client stock, with proceeds to be distributed to preferred shareholders as the shares are sold.