Creatd, Inc. Raises $4.0 Million in Private Placement of Notes Convertible at $5.00, and Warrants Exercisable at $4.50
Creatd, Inc. (Nasdaq CM: CRTD) has successfully closed a $4.0 million private placement of convertible notes and warrants led by Lind Global Macro Fund. The funding, which features a conversion price of $5.00 per share, is projected to yield net proceeds of approximately $3.5 million for corporate purposes and enhanced marketing. The placement also includes 1,090,908 warrants exercisable at $4.50 per share. This strategic financing is expected to accelerate Creatd's growth and support its mission within the creator economy.
- Closed $4.0 million private placement to bolster finances.
- Expected net proceeds of approximately $3.5 million for corporate purposes.
- Warrants issued at $4.50 per share present potential for future capital.
- Financing supports strategic vision and marketing efforts.
- None.
FORT LEE, N.J., May 14, 2021 /PRNewswire/ -- Creatd, Inc. (Nasdaq CM: CRTD) ("Creatd" or the "Company"), is pleased to announce that it has closed a private placement of convertible notes and warrants, led by Lind Global Macro Fund, L.P., an institutional investment fund managed by The Lind Partners, LLC, (together, "Lind"), for aggregate gross proceeds of
The Company anticipates the aggregate net proceeds from the offering will be approximately
Commenting on the financing, Creatd's CEO, Jeremy Frommer said, "Securing this funding with Lind as the lead investor is an exciting moment for our company. It allows us the opportunity to accelerate our strategic vision, as well as to partner with a financial institution that acutely understands the strength of our platform's native capabilities and the valuable service it provides to users all across the creator economy."
Jeff Easton, founder and managing director of The Lind Partners, added, "At Lind, we seek first and foremost to work with only the most dedicated, competent, and passionate of management teams, and Creatd's certainly fits that bill. We are pleased to partner with Creatd at such a crucial moment in their evolution. We have strong confidence that our investment will accelerate Creatd's momentum in achieving new milestones and providing a much-needed forum for safe and meaningful expression."
This private placement closed on May 14, 2021, and funds are expected shortly.
The securities underlying the conversion of the notes will be registered pursuant to a Form S-1, to be filed with the Securities and Exchange Commission (the "SEC") no later than June 7, 2021.
This press release does not constitute an offer to sell or the solicitation of an offer to buy the securities, nor shall there be any sale of the securities in any state or other jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of such state or other jurisdiction.
About The Lind Partners
The Lind Partners is an institutional fund manager and leading provider of growth capital to small- and mid-cap companies publicly traded in the US, Canada, Australia and the UK. Lind makes direct investments ranging from US
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. We accomplish this through Creatd's three main business pillars: Vocal Ventures, Creatd Partners, and Recreatd.
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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