SRAX Inc. (NASDAQ: SRAX) Bolsters Investment Analytics Platform Through Acquisition of LD Micro
SRAX acquiring LD Micro, leading information portal providing intraday information on micro-cap stocks
- Acquisition to accelerate adoption of Sequire, SRAX’s investment data analytics platform
- Sequire revenue grew 29% year-over-year for Q2 2020
- SRAX entered into $13 million definitive securities purchase agreement to fund Sequire’s rapid expansion
SRAX Inc. (NASDAQ: SRAX), a digital marketing and consumer data management technology company, recently announced that it will acquire LD Micro, a leading data and event company serving the small and micro-cap space. Initially founded in 2006, LD Micro has grown from a newsletter into a portal that provides exclusive intraday information covering North American stocks with market capitalizations between $50 million and $300 million. SRAX’s move comes at a time of rapid growth for Sequire, its investment data analytics platform, making the acquisition a synergistic gain for both parties.
“LD Micro is, without a doubt, one of the most well-known and respected brands in micro-cap. Chris Lahiji and his team have done an incredible job of creating a loyal community of investors and issuers,” said SRAX founder and CEO Christopher Miglino. “LD Micro is also accretive to our investors from day one. We are confident that together we’ll accelerate the adoption of Sequire, while also enhancing LD Micro’s digital assets” (http://nnw.fm/ppRfl).
Sequire helps public companies unlock the power of data by providing tools that give valuable insights on the activities of both retail and institutional investors, in addition to providing the critical data necessary to activate successful marketing campaigns. With over one million active investors and traders across 91 public companies, the platform has experienced rapid growth since its creation in 2019, due mostly to its in-demand suite of products that include tools to harness investor intelligence and outreach, warrant tracking, survey creation, events and roadshows and customer relationship/resource management (“CRM”).
“What Chris and his team at SRAX have built is simply remarkable,” said LD Micro founder Chris Lahiji, who is expected to join SRAX’s board of directors following the acquisition.
“The platform is an absolute game-changer for public companies and their shareholders. Both companies believe that one day executives will rely on Sequire the same way investors rely on Bloomberg. Over 1,500 companies have presented at LD Micro’s events since 2008, and almost all of them would be immediate beneficiaries of this technology.”
LD Micro recently hosted its LD 500 conference in early September, featuring updates from hundreds of companies representing a wide range of industries. The online conference, considered to be the most ambitious project in LD Micro’s 14-year history, incorporated interviews and keynotes with small-cap royalty from some of the most prominent companies in the micro-cap world.
“We are also impressed with SRAX’s plans for the next generation of events,” continued Lahiji. “With more than one million investors on Sequire so far, we will continue hosting industry-leading forums with an audience that is 50 times our current reach.”
Besides doubling its user base since July to over a million investors and traders (http://nnw.fm/JRZtk), Sequire has also seen impressive financial success with 29% year-over-year revenue growth for Q2 2020, fueling plans to fund the platform’s expansion through an agreement for the purchase and sale of $13 million senior secured convertible debentures (http://nnw.fm/9fMKq). Besides Sequire, SRAX continues to capitalize on the growing demand for quantifiable and detailed consumer data through the creation and development of other specialized tools for the CPG, luxury goods and lifestyle verticals that reveal core consumers and their characteristics across various marketing channels.
For more information, visit the company’s website at www.SRAX.com.
NOTE TO INVESTORS: The latest news and updates relating to SRAX are available in the company’s newsroom at http://nnw.fm/SRAX
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