Creatd Raises $2.5 Million in Insider-Led Financing

Rhea-AI Summary

Creatd, Inc. (Nasdaq CM: CRTD) announced the closing of a $2.5 million capital raise, led by Executive Chairman Jeremy Frommer, who invested $315,000 at $1.75 per share. This insider financing includes participation from the management team and long-term shareholders, with no associated banking fees. The company also relocated its headquarters to New York City, aiming to leverage the local talent market and contribute to the city's economic recovery. The financing will include registration rights for investors, with necessary filings expected shortly.

Positive

• Successfully raised $2.5 million in capital through insider financing.
• Relocation to New York City positions the company in a vibrant talent market.

Negative

• None.

NEW YORK, March 1, 2022 /PRNewswire/ -- Creatd, Inc. (Nasdaq CM: CRTD) ("Creatd" or the "Company"), the parent company of Vocal, today announced the closing of an approximately $2.5 million capital raise priced above-market. The PIPE (private investment in public equity) offering (the "Offering"), was led by Jeremy Frommer, Creatd's newly appointed Executive Chairman and Founder, who invested $315,000 at a price of $1.75 per share, purchasing 180,000 shares together with 180,000 warrants. In addition to Mr. Frommer, the raise included participation from the entire Creatd management team, as well as numerous employees, board members, insiders, and long-term shareholders. The financing was placed entirely by the Company, and as such included no associated banking fees, and is anticipated to close on or before March 2nd, 2022. Additionally, the financing includes registration rights for the investors, with a resale registration statement required to be filed in the near term.

The Company also announced the relocation of its corporate headquarters to New York City. Commented Executive Chairman Jeremy Frommer, "It is a very exciting time to have opened Creatd's new offices at the heart of the creative community in Lower Manhattan. With the worst of the pandemic seeming to be behind us, our Company looks forward to contributing actively to the City's economic recovery, as well as benefiting from close access to one of the deepest and most diverse talent markets in the world."

About Creatd
Creatd, Inc. (Nasdaq CM: CRTD) is a creator-first technology holding 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 four business pillars: Creatd Labs, Creatd Partners, Creatd Ventures, and Creatd Studios.

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.

FAQ

What is the amount raised by Creatd in the recent capital raise?

Creatd raised $2.5 million in capital.

Who led the capital raise for Creatd?

The capital raise was led by Jeremy Frommer, the Executive Chairman.

What was the share price in the recent offering by Creatd?

The share price in the offering was $1.75.

When is the registration statement for investors expected to be filed?

The registration statement for investors is expected to be filed in the near term.

What is the significance of Creatd's move to New York City?

The move aims to enhance access to a diverse talent market and contribute to the city's economic recovery.