FORT LEE, N.J., Sept. 11, 2020 /PRNewswire/ -- Creatd, Inc.
(NASDAQ: CRTD) ("Creatd" or the "Company"), the parent company and
creator of the Vocal platform, today announced the pricing of
its underwritten public offering of 1,725,000 units of securities
at an offering price of $4.50 per
unit. Each unit is immediately separable into one share of common
stock and one warrant to purchase one share of common stock and
will be issued separately. The warrants underlying the units are
immediately exercisable for one share of common stock at an
exercise price of $4.50 and expire 5
years from the date of issuance.
In connection with the offering, the Company's common stock and
warrants will begin trading on the Nasdaq Capital Market on
September 11, 2020, under the symbols
"CRTD" and "CRTDW," respectively, reflecting the Company's name
change from Jerrick Media Holdings, Inc. to Creatd, Inc., which
became effective on September 10,
2020.
The Company has granted the underwriters a 45-day option to
purchase up to 258,750 additional shares of the Company's common
stock and/or up to 258,750 additional warrants to purchase shares
of the Company's common stock, or any combination thereof, to cover
overallotments, if any. The offering is expected to close on or
about September 15, 2020, subject to
customary closing conditions.
The Company expects to receive gross proceeds of $7.7625 million, before deducting underwriting
discounts and commissions and other estimated offering expenses.
The Company intends to use the net proceeds to increase its
marketing efforts, repay certain indebtedness, further research
& development, and for general working capital.
The Benchmark Company, LLC is acting as book-running manager for
the offering. Aegis Capital Corp. and Brookline Capital Markets, a
division of Arcadia Securities, LLC, are acting as co-managers for
the offering.
This offering is being made pursuant to an effective
registration statement on Form S-1 (No. 333-238514) previously
filed with the U.S. Securities and Exchange Commission (the "SEC")
and declared effective by the SEC on September 10, 2020. A final prospectus describing
the terms of the proposed offering will be filed with the SEC and
may be obtained, when available, via the SEC's website at
www.sec.gov or from: The Benchmark Company, LLC: Equity Syndicate
Department, 150 East 58th Street, 17th floor,
New York, NY 10155 or by telephone
at (212) 312-6700.
This press release does not constitute an offer to sell or the
solicitation of an offer to buy these securities, nor shall there
be any sale of these securities in any state or jurisdiction in
which such offer, solicitation or sale would be unlawful prior to
registration or qualification under the securities laws of that
state or jurisdiction.
About Creatd
Creatd, Inc. is the parent company and creator of the Vocal
platform. The Company creates technology-based solutions to solve
problems for the creative community. Through Vocal, Creatd
identifies and leverages opportunities within the digital platform
and content monetization space. Since launching in 2016, Vocal has
become home to over 650,000 content creators and brands of all
shapes and sizes, attracting audiences across its network of wholly
owned and operated communities. For more information about Creatd,
the content of which is not part of this press release:
Creatd: https://creatd.com
Vocal Platform: https://vocal.media
Investor Relations Contact: ir@jerrick.media
Forward Looking Statements
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or involve discussions as to, expectations, beliefs, plans,
objectives, assumptions or future events or performance (often, but
not always, indicated through the use of words or phrases such as
"will likely result," "are expected to," "will continue," "is
anticipated," "estimated," "intends," "plans," "believes" and
"projects") may be forward-looking and may involve estimates and
uncertainties which could cause actual results to differ materially
from those expressed in the forward-looking statements. We caution
that the factors described herein could cause actual results to
differ materially from those expressed in any forward-looking
statements we make and that investors should not place undue
reliance on any such forward-looking statements. Further, any
forward-looking statements speak only as of the date on which such
statement is made, and we undertake no obligation to update any
forward-looking statements to reflect events or circumstances after
the date on which such statement is made or to reflect the
occurrence of anticipated or unanticipated events or circumstances.
New factors emerge from time to time, and it is not possible for us
to predict all of such factors. Further, we cannot assess the
impact of each such factor on our results of operations or the
extent to which any factor, or combination of factors, may cause
actual results to differ materially from those contained in any
forward-looking statements. This press release is qualified in its
entirety by the cautionary statements and risk factor disclosure
contained in our Securities and Exchange Commission filings.
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SOURCE Creatd, Inc.