SRAX Announces Q4 Shares Repurchased and Dividend Payment

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  • 18.01.2022 04:00 pm

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.

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