SRAX Inc.’s (NASDAQ: SRAX) Sequire sees $2.5M in Q2 2020 Sales
-SRAX’s investor intelligence platform Sequire announces that Q2 2020 sales exceeded $2.5 million
-The platform has seen customer numbers swell to over 75 publicly listed companies, rising from 59 at start of year
-SRAX also announced its raise of $13 million through the sale of convertible debentures, equity warrants
-While also settling an outstanding secured term loan, proceeds from raise will be used to fuel Sequire’s rapid expansion plans
SRAX (NASDAQ: SRAX), a digital marketing pioneer focused on providing consumer data management services, announced that its investor intelligence platform, Sequire, has shown significant growth in the second quarter with sales exceeding $2.5 million (http://ibn.fm/IqJdp
). Launched in its rebranded format during SRAX’s first quarter earnings announcement, Sequire has witnessed a sharp increase in customer interest in recent months, growing its client base to over 75 publicly traded companies in the US and Canada, with an aggregate of over 500,000 unique shareholders. The platform, which assists its clients in tracking and interacting with their shareholders, has rapidly become an essential digital tool for equity issuers seeking to broaden their shareholders’ registers during a largely unprecedented time in global markets.
SRAX also seized the opportunity to announce that it had raised $13 million through the sale of convertible debentures and equity warrants (http://ibn.fm/5MTOc
), with the proceeds of the capital-raising exercise to be used to fund Sequire’s rapid growth. With client numbers growing by a remarkable 27% over the first six months of the year, the investor intelligence platform has seen its ability to better understand which types of investors are willing to buy different stocks become increasingly defined, thereby enabling Sequire to better serve its clients.
“On Thursday, we announced a capital raise of $13M, which we will use in part to fund the rapid expansion of Sequire,” said SRAX CEO and founder Christopher Miglino. “Our clients have seen notable results from the platform and its related services. We’ve also seen a significant increase in the number of clients on the platform with Q2 sales hitting over $2.5M and an additional $3M in the pipeline, with a very high probability of closing in Q3.”
Sequire has launched a number of new initiatives over the past few weeks so as to broaden its overall service offering to its corporate customers. In addition to its revolutionary ‘Stocks for Ads’ initiative (http://ibn.fm/dbdrH
), which enables companies to subscribe for Sequire’s services and pay for media campaigns in exchange for stock, thus allowing them to conserve their cash reserves at an economically tumultuous time – the company has also recently introduced its Virtual Roadshow feature (http://ibn.fm/rF1WP
With companies unable to carry out their traditional investor relations agendas, digital exchanges with investors have increasingly become a priority for corporate management teams. The Virtual Roadshow feature allows companies to host video and audio meetings with both new investors and existing shareholders, while also allowing them to track their meeting attendees’ investments following the event. With investors progressively resorting to digital means to research and interact with new investment opportunities, Sequire and its diverse portfolio of services appear to be in greater demand than ever before.
For more information, visit the company’s website at www.SRAX.com.
NOTE TO INVESTORS: The latest news and updates relating to SRAX are available in the company’s newsroom at http://ibn.fm/SRAX