Creatd Announces Pricing of Registered Direct Offering Priced At-The-Market Under Nasdaq Rules
Creatd, Inc. (Nasdaq CM: CRTD) announced a registered direct offering priced at $4.50 per share, aiming to raise $3,825,000. The offering is set to close on October 27, 2021, subject to customary conditions. The company expects net proceeds of approximately $3.6 million for general corporate purposes. Recently, the company raised an additional $3,939,435 through the exercise of warrants and converted $1,141,669 in convertible debt into 228,334 shares. Co-CEO Jeremy Frommer stated that this strengthens the company's financial position significantly.
- Raised $3,825,000 through a registered direct offering.
- Net proceeds of approximately $3.6 million will support growth.
- Shareholder dilution from new stock offering.
NEW YORK, Oct. 25, 2021 /PRNewswire/ -- Creatd, Inc. (Nasdaq CM: CRTD) ("Creatd" or the "Company"), the parent company of Vocal, today announced it has entered into a definitive agreement with investors for the purchase and sale of its common stock at a purchase price of
The Benchmark Company LLC is acting as exclusive placement agent for the offering.
The Company anticipates the aggregate net proceeds from the offering will be approximately
Additionally, between October 22-25, 2021, the Company saw the exercise of outstanding warrants to purchase 875,430 shares of common stock resulting in gross proceeds of
Commented Creatd co-CEO Jeremy Frommer, "With these aforementioned transactions, our Company's financial position is the strongest it has ever been."
This offering is being made pursuant to an effective shelf registration statement on Form S-3 (File No. 333-250982) previously filed with the U.S. Securities and Exchange Commission (the "SEC"). A prospectus supplement describing the terms of the proposed offering will be filed with the SEC and will be available on the SEC's website located at https://www.sec.gov/. Electronic copies of the prospectus supplement may be obtained, when available, from The Benchmark Company, LLC, 150 East 58th Street, 17th floor, New York, NY 10155, or by telephone at (212) 312-6700, or by email at prospectus@benchmarkcompany.com. Before investing in this offering, interested parties should read in their entirety the prospectus supplement and the accompanying prospectus and the other documents that the Company has filed with the SEC that are incorporated by reference in such prospectus supplement and the accompanying prospectus, which provide more information about the Company and such offering.
This press release does not constitute an offer to sell, or a solicitation of an offer to buy securities, any securities, nor shall there be any sale of securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
About Creatd
Creatd, Inc. (Nasdaq CM: CRTD) is a creator-first technology company and the parent company of the Vocal platform. Our mission is to empower creators, entrepreneurs, and brands through technology and partnership.
For news and updates, subscribe to Creatd's newsletter: https://creatd.com/newsletter
Investor Relations Contact: ir@creatd.com
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SOURCE Creatd, Inc.
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