NetworkNewsBreaks – Social Reality, Inc. (NASDAQ: SRAX) Enters $3.72 Million Securities Purchase Agreement
Internet advertising company Social Reality, Inc. (NASDAQ: SRAX) this morning announced its entry into a definitive securities purchase agreement with certain institutional and accredited investors for the purchase and sale of up to an aggregate of $3.72 million principal amount Secured Convertible Debentures and five year Series A Warrants representing the right to acquire up to 1,156,667 shares of the company’s Class A common stock in a transaction exempt from registration under the Securities Act of 1933. “This capital infusion satisfies certain current obligations, eliminates uncertainty of the variable priced financial instrument and provides us working capital to continue to…