By Chris Wack

Creatd Inc. shares were up 12% to $4.64 after the company said it has entered into a definitive agreement with investors for the purchase and sale of its common stock at $4.50 a share for proceeds of $3.8 million in a registered direct offering.

The closing of the offering is expected to occur on Wednesday.

Volume for the stock was 34.6 million shares at 1 p.m. ET, compared to its 65-day average volume of 3.3 million shares. The stock hit its 52-week low of $2.10 on Oct. 12, and 52-week high of $9.80 on Friday.

Creatd shares traded at high as $7 a share earlier in the session, after the company said its OG Gallery division was releasing new non-fungible token art, a series of three photographs of former President Donald Trump.

The company said the photographs were first unearthed by Creatd founder and co-Chief Executive Officer Jeremy Frommer within a collection acquired from creditors of Bob Guccione, the CEO of General Media.

Creatd said the asking price for the Trump photo NFT is 240 ethereum, or about $990,000 at current ethereum rates. The buyer will also receive the original high-resolution JPG of the photograph, plus a large scale 1/1 print of the photograph in a gilded frame, all authenticated by the OG Collection curation team, the company said.

Write to Chris Wack at chris.wack@wsj.com

(END) Dow Jones Newswires

October 25, 2021 13:20 ET (17:20 GMT)

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