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SRAX Signs Agreement to Merge with DNA Holdings
- SRAX has entered into a definitive merger agreement with DNA Holdings Venture Inc.
- Upon the closing of the merger, DNA shareholders will become the majority owners of SRAX's outstanding common stock.
- DNA is currently a long-term investor in SRAX and owns approximately 35% of the company.
- The merger is subject to certain contingencies outlined in the definitive agreement to be filed with the SEC.
- Upon the completion of the merger, the public company plans to change its name to DNA Holdings Venture Inc and to request to change its ticker symbol.
- SEQUIRE intends to work with their clients to help them explore methods by which they can capitalize from decentralized finance and the tokenization opportunities.
- The boards of directors of SRAX and DNA have unanimously approved the proposed Transaction.
- The proposed Transaction is subject to the approval of both SRAX and DNA stockholders and satisfaction or waiver of the conditions stated in the Agreement.
- The parties believe that SRAX’s ability to reach a database of millions of investors is uniquely positioned to educate and inform on the benefits of investing in the decentralized ecosystem.
- The parties also believe that SRAX is uniquely positioned to enhance a platform to provide investor insights for Web3 projects.
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