Creatd Extends Record Date for its $40MM Rights Offering at a Premium to Market, Further Pursuing Enforcement of Regulation SHO
Creatd, Inc. (Nasdaq: CRTD) has revised the record date for its rights offering from July 29, 2022, to August 4, 2022. This change gives the company additional time to prevent violations of Regulation SHO by informing custodians through its information agent, D.F. King. The updated rights offering calendar outlines important dates, including the subscription period starting on August 11, 2022, and ending on August 25, 2022. The adjustments aim to protect shareholders by addressing the issues related to short-selling practices in the micro-cap sector.
- Extended rights offering record date allows for better compliance with Regulation SHO.
- Additional time to address potential violations of short-selling regulations.
- None.
- Creatd resets its Record Date and provides updated rights offering calendar.
- Creatd notifies information agent D.F. King and DTC in order to inform the custodians and prevent potential violations of regulation SHO.
NEW YORK, July 26, 2022 /PRNewswire/ -- Creatd, Inc. (Nasdaq CM: CRTD) ("Creatd" or the "Company"), today announced that it has revised the record date for its Rights Offering from July 29, 2022, to August 4, 2022. Additionally, the Company has sent the following to its information agent as well as to the DTC.
The below rights offering calendar has been updated to reflect the changes.
Tuesday, August 2, 2022 | Ownership Date – Securities must be acquired by market close of 4:00 PM ET in order to be considered a shareholder of record on the Record Date |
Thursday, August 4, 2022 | Record Date – Cutoff date that determines the eligibility of shareholders to receive Rights entitlements |
Thursday, August 11, 2022 | Subscription Period Begins – Shareholders can start investing in Rights Offering at 9:00 AM ET |
Thursday, August 25, 2022 | Subscription Period Ends – 5:00 PM ET unless extended at the Company's sole discretion |
"The new Record Date allows us six extra days needed to (a) discover the extent to which violation may have occurred and (b) prevent our clients' custodians from violations of Reg SHO during our rights offering, to which shorts may not establish proper "locate" and "close-out" positions for our shares and the non-transferable subscription rights to be distributed as a dividend. Short sellers cannot legally short nontransferable subscription rights where a locate is unavailable. The micro-cap space as a whole has been subject to questionable behavior in regards to financings and, in particular, naked short-selling that does not align with available data on questionable financial websites claiming to represent outstanding short interest. The adjustments announced today will help us focus on completing a successful rights offering while doing all we can to educate our shareholders and custodians," commented Jeremy Frommer, Creatd's Founder and Executive Chairman.
Creatd, Inc. (Nasdaq CM: CRTD) is a company with a mission to provide economic opportunities to creators and brands by multiplying the impact of platforms, people, and technology. The Company has four main business segments, or 'pillars': Creatd Labs, Creatd Partners, Creatd Ventures, and Creatd Studios. Each pillar is characterized by a distinct revenue model, while operating on a shared-services structure and proprietary data collected from our multiple technology platforms. Creatd's pillars work together to create a flywheel effect, supporting our core vision of creating a viable and safe ecosystem for all stakeholders in the creator economy.
Creatd: https://creatd.com;
Creatd IR: https://investors.creatd.com;
Vocal Platform: https://vocal.media;
Investor Relations Contact: ir@creatd.com
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SOURCE Creatd, Inc.
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