- SRAX, premier provider of investor intelligence and communications platform, announces the quantity of stock bought-back in Q4 and dividend payment
- $800K worth of shares was repurchased in Q4 as part of company’s $10M stock buy-back program; dividend for common stockholders paid in preferred shares
- SRAX’s corporate action comes amid period of solid growth and robust financial performance
SRAX (NASDAQ: SRAX), a financial technology company that unlocks data and insights for publicly traded companies, announces the number of shares repurchased in the fourth quarter of 2021 and the first payment for the previously issued dividend (https://nnw.fm/44Qvg). The repurchase initiative is in line with the company’s $10M stock buy-back program and the intended dividend payment to the holders of SRAX common stock, both of which were announced in Q3 2021.
The company bought back approximately 155,000 of common shares during the last quarter of 2021. At an average price of $5.12 per share, this repurchases initiative amounts to approximately $800K. The dividend for the holders of SRAX common stock was paid in the form of preferred shares, which hold shares from SRAX clients that are periodically sold with proceeds to be paid within 30 days following the end of each quarter. The company announced that it sold approximately $380K of this type of shares during the last quarter, which entitled each holder to a cash payment of $0.01 per share due by January 30th, 2022.
SRAX has seen its financial performance growing stronger and stronger over the past year. With its proprietary SaaS platform Sequire, SRAX solves some of the most critical problems for public companies and investors alike. The former strives to better communicate with their shareholders and the broader investment community, while the latter seek transparency and actionable insights to uncover compelling growth opportunities in today’s cluttered digital environment. The company offers a host of tools that public companies need to get noticed by the investment community and thrive. As a big data analytics platform, Sequire allows public companies to track their investors’ buying and selling behavior and use this information to engage their investor base across different marketing channels.
With Sequire, companies have access to key data to understand the market activity, such as market maker behavior, buying/selling trends, new shareholders, and breakdowns of shareholder positions. SRAX is also a renowned organizer of investor conferences–arguably the best known and most respected conference provider focused on the small and micro-cap markets.
Committed to delivering value to its shareholders and clients alike, the company continues to make strides when it comes to positioning itself as a go-to data provider for the small and mid-cap market. “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,” concluded Miglino.
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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