SRAX, Inc. announced that it has entered into definitive securities purchase agreements with a certain accredited and institutional investor to issue an Original Issue Discount Convertible Debenture at a price of $75,000 in the principal amount of $90,000 for gross proceeds of $75,000 on March 5, 2024. The Debentures will mature on February 28, 2026 and bear no interest per annum. The Debentures are convertible at the option of the holder into shares of our Class A common stock at an initial conversion price of $0.25 per share, subject to adjustment.

The debentures issued are exempt from registration under the Securities Act of 1933, as amended in reliance on the exemption provided by Rule 506(b) of Regulation D and Section 4(a)(2) of the Securities Act.