SRAX Signs Agreement to Merge with DNA Holdings

Westlake Village, CA, May 08, 2024 (GLOBE NEWSWIRE) -- SRAX Inc. (OTC: SRAX), a financial technology company that unlocks data and insights for publicly traded companies through its SaaS platform Sequire, announced today it has entered into a definitive merger agreement with DNA Holdings Venture Inc. pursuant to which the shareholders of DNA will become the majority owners of SRAX’s outstanding common stock as more fully described below upon the closing of the merger.

DNA has been a long term investor in SRAX and currently owns approximately 35% of the company.  DNA is  a Web3 investment company which provides both advisory services and invests in Web3 infrastructure. The company was founded by Brock Pierce, the Chairman of the Bitcoin Foundation and Scott Walker, one of the most successful investors in Web3. The DNA team has been co-founders, investors and advisors in some of the most notable Web3 projects in the world; including Tether (USDT), Blockchain Capital (Web3 Venture Fund), Hedera Hashgraph (HBAR) among many others. Each of the projects listed are currently valued  between $5B and $100B USD.  

DNA Holdings currently has three areas of focus:

• DNA Funds -  DNA has a number of funds that make investments into selective projects that they believe will be some of the most successful Web3 projects ever launched. The current funds include: 
  DNA HelixOpportunity Fund 
  DNA Liquid Token Fund
  DNA High Yield Fund 
  DNA Moonshot Fund 
  DNA Venture Fund
  
  
• Web3 Services -  Helping companies position themselves to attract investors and creating the marketing attention that the companies need to become recognized in this rapidly growing $2T+ Worldwide market. 
  
  
• Community and Events -  In collaboration with SRAX - DNA will host events all over the world to help educate investors about Web3 projects and its ecosystem. These events will be in person and virtual through the SEQUIRE virtual platform.  
  
  
  

The transaction is projected to close upon the satisfaction of certain contingencies that are outlined in the definitive agreement that will be filled 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, creating a public company which will allow investors to gain exposure to the most cutting edge Web3 technology projects. Christopher Miglino will act as the CEO of the combined entity.