Business
Freedom Holding Acquires LD Micro From SRAX, Inc.
Purchase brings pre-eminent small-cap platform to the Freedom family ALMATY, Kazakhstan & NEW YORK--(BUSINESS WIRE)-- Freedom U.S. Markets, LLC, a
About this update from Freedom Holding Corp.
[{"type":"text","content":"\nPurchase brings pre-eminent small-cap platform to the Freedom family\n\n ALMATY, Kazakhstan & NEW YORK--(BUSINESS WIRE)--\nFreedom U.S. Markets, LLC, a wholly-owned subsidiary of Freedom Holding Corp. (NASDAQ: FRHC), announced today that it has completed the acquisition of LD Micro from SRAX, Inc. (NASDAQ: SRAX). The total consideration of $8.3 million includes $4 million in cash and FRHC common stock valued at $4.3 million.\n\nLD Micro offers two premier small-cap conferences annually, the Invitational: June 6-8 (Los Angeles) and the Main Event: October 3-5 (Los Angeles), which hosts over 200 companies and 1,000 investors.\n\nFor the past 15 years, the LD Micro conferences have showcased the next big names in the small-cap world to investors and influencers. In addition, the LD Micro Index provides one of the most accurate representations of the intraday activity of micro-cap stocks in North America.\n\n\"I've admired LD Micro since attending the Main Event in 2018, and I'm thrilled to add them to the Freedom family,\" said Timur Turlov, CEO of Freedom Holding Corp.\n\n\"Chris Lahiji has created an unparalleled platform to showcase small and micro-cap companies across sectors and geographies,\" said Robert Wotczak, Chief Executive Officer of Freedom's U.S. operations. \"I've known Chris since the beginning and have the utmost respect for him and the LD Micro brand. We see many synergies between LD Micro and the Freedom platform. We look forward to expanding our offering of bespoke and differentiated services to our clients, investors, and stakeholders.\"\n\nChris Lahiji, Founder of LD Micro, commented, \"With Freedom, LD takes the world's stage. Our team is ready to showcase what makes us truly special. I am grateful and elated that Mr. Turlov and Mr. Wotczak share our long-term vision and will help us become the standard in the space. We are in the first inning of a very long baseball game.\"\n\nSRAX will also serve as the exclusive streaming partner for LD events in the coming years and provide quality coverage for its global audience using the Sequire platform.\n\nMitchell Silberberg & Knupp LLP served as legal advisor to SRAX. Ellenoff Grossman & Schole LLP and Morgan, Lewis & Bockius, LLC served as counsel for Freedom.\n\nAbout Freedom Holding Corp.\n\nFreedom Holding Corp., a Nevada corporation, is a financial services ...