SRAX, Inc. Nasdaq SRAX October 1, 2020
SRAX, Inc. (NASDAQ: SRAX), a financial technology company that unlocks data and insights for publicly traded companies, announced that its BIGtoken platform, which empowers consumers to earn money and control their own data, will become a separate publicly traded company.
SRAX has entered into a definitive share exchange agreement with Force Protection Video Equipment Corp (Ticker: FPVD), whereby SRAX will transfer all of the outstanding equity of BIGtoken in exchange for 88.9% of the issued and outstanding shares of FPVD, subject to certain closing conditions. The separation of BIGtoken as a company will enable SRAX to benefit from the potential upside of the BIGtoken platform while reducing SRAX’s costs and focusing management’s resources on the success and future profitability of Sequire. SRAX’s CEO Christopher Miglino will remain at SRAX to lead SRAX and the Sequire team, while also serving as chairman of the new entity.