Your World of Legal Intelligence
 United Kingdom | +44 (0) 20 7284 8080

SRAX Extends Right to Get BIGtoken Special Dividend through December 31, 2021.

Document Cited in Related
Vincent

INTERNET BUSINESS NEWS-(C)1995-2021 M2 COMMUNICATIONS

SRAX, Inc. (Nasdaq: SRAX), a financial technology company that unlocks data and insights for publicly traded companies through Sequire, its SaaS platform, has extended the expiration time for its special dividend right from December 31, 2020 to on or before 5:00 p.m., ET, on December 31, 2021, the company said.

On September 17, 2018, the company issued a non-transferable right ("Dividend Right") to receive at no charge a special dividend to holders of the company's Class A common stock as well as certain holders of the company's common stock equivalents. If and when declared, the Special Dividend will consist of such number and designation of the SRAX subsidiary BIGtoken, Inc.'s securities ("Special Dividend") as determined by the company's management at their sole discretion.

The Dividend Right was set to expire on or before 5:00 p.m., ET, on December 31, 2020, unless extended by the Company (the "Expiration Time"). The Dividend Right will now expire if the Special Dividend is not declared on or before 5:00 p.m., ET, on December 31, 2021, unless further extended by the company.

The Special Dividend will be an analog security, i.e., not digital, and not a cryptocurrency, and the Special Dividend is expected to be a fractional non-voting security that, if and when issued, is expected to only participate in a portion of the financial performance...

To continue reading

Request your trial
COPYRIGHT Normans Media Ltd.

VLEX uses login cookies to provide you with a better browsing experience. If you click on 'Accept' or continue browsing this site we consider that you accept our cookie policy. ACCEPT