- Company extends expiration of special dividend for one year
- If declared, special dividend will consist of number, designation determined by company management
- BIGtoken is first consumer-managed data marketplace where people can own, earn from their data
SRAX (NASDAQ: SRAX) will extend the expiration for its previously announced BIGtoken special dividend right for one year. The dividend right was set to expire on or before 5 p.m. on Dec. 31, 2020, and that deadline has been extended to on or before 5 p.m. ET on Dec. 31, 2021 (https://ibn.fm/sCKWJ).
The original dividend right was issued on Sept. 17, 2018, when SRAX, then called Social Reality Inc., announced a nontransferable right to receive at no charge a special dividend to holders of the company’s Class A common stock; the right was also extended to certain holders of the company’s common stock equivalents.
The extension announcement notes that “if and when declared, the Special Dividend will consist of such number and designation of the SRAX subsidiary BIGtoken Inc.’s securities as determined by the company’s management at their sole discretion. . . . 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 of the BIGtoken platform.”
Initially launched by SRAX and then spun off as a separate company, BIGtoken, or BIG, is a secure consumer data-management and distribution system —the first consumer-managed data marketplace where people can own and earn from their data (https://ibn.fm/nr4Sm). Through a transparent platform and consumer reward systems, BIG offers consumers choice, transparency, and compensation for their data. Participants earn rewards, and developers are able to build pro-consumer online experiences on top of the BIG platform (https://ibn.fm/Ol2Qb).
At last count, BIGtoken has compensated more than 16 million users for access to their data while creating data sets across 25,000 unique market segments. Brands are offered access to this verified, opted-in data for a fee.
“BIGtoken is a secure platform that empowers you to realize and claim the value of your digital self,” the website observes (https://ibn.fm/B0Cj3). “You have a right to privacy, awareness, and choice when it comes to the data you put out into the digital world. With BIG, you can own and earn from that data while staying connected to your community.”
SRAX is currently focused on unlocking data and insights through its software-as-a-service (SaaS) platform, Sequire. Launched as a standalone platform in early 2020, Sequire now has more than 1 million investors and traders, with an estimated 91 publicly listed companies as subscribers. The explosion in growth is driven by Sequire’s extensive range of services and as companies have increasingly sought to adopt digital technology and the data generated from such mediums as a way of improving their engagement with customers and stakeholders alike.
NOTE TO INVESTORS: The latest news and updates relating to SRAX are available in the company’s newsroom at http://ibn.fm/SRAX
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