- Shares of CRTD or CRTD warrants must be acquired by
4:00 PM ET on the Ownership Day,
July 27, 2022, in order to receive
the dividend of subscription rights
- Creatd management, officers, directors, and employees will have
the right but not the obligation to participate in this Rights
Offering on the same terms as the other equity holders
NEW
YORK, July 12, 2022 /PRNewswire/ -- Creatd,
Inc. (Nasdaq CM: CRTD) (Nasdaq CM: CRTDW) ("Creatd" or the
"Company") today announced the Record Date of July 29, 2022, for its $40
Million Rights Offering ("Record Date"), and confirmed the
below calendar of dates associated with the Rights Offering:
Thursday, July 21,
2022
|
Creatd's 2022
Investor Day – Investor Day presentation to be made
available for online access at 4:00 PM ET
|
Wednesday, July 27,
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
|
Friday, July 29,
2022
|
Record Date –
Cutoff date that determines the eligibility of shareholders to
receive Rights entitlements
|
Wednesday, August 3,
2022
|
Subscription Period
Begins – 9:00 AM ET, shareholders can start investing in
Rights Offering
|
Wednesday, August
17, 2022
|
Subscription Period
Ends – 5:00 PM ET unless extended at the Company's sole
discretion
|
As part of the above calendar of events, the Company has
announced that it will hold an Investor Day on July 21st, 2022. The Investor Day presentation
will include a tour of the Vocal mobile app, which remains on
schedule to launch imminently, as well as previews of a number of
additional product updates across Creatd's portfolio of brands.
Creatd's management, officers, directors, and employees (the
"Insiders") will have the right but not the obligation to
participate in this Rights Offering on the same terms as the other
equity holders, including those related to over-subscription
privileges.
If the Rights Offering is fully subscribed, the Company expects
to receive proceeds of up to $40
million, before expenses, with proceeds to be allocated
toward funding its expansion plan. If all of the warrants
underlying the Units were to be exercised in the future, the
Company would receive an additional $180
million. There is no obligation of the holders of
subscription rights to exercise their rights and there will be no
obligation of the holders of Units to exercise the warrants forming
part of the Units.
Under the terms of the proposed Rights Offering, Creatd will be
issuing subscription rights to its shareholders and warrant holders
of record ("Record Date Shareholders"). Record Date Shareholders
will receive two subscription rights for each share of Creatd
common stock or share which may be acquired via conversion or
exercise of preferred stock, warrants, or options. Each
subscription right will entitle the eligible holder to purchase one
Unit at a premium-to-market subscription price of $2.00 per Unit. Each Unit will consist of: (i)
one share of common stock, (ii) one redeemable 5-year warrant
exercisable for $3 per share, and
(iii) one redeemable 5-year warrant exercisable for $6 per share, with both aforementioned warrants
to be publicly tradable.
In order to ensure that all trades are settled by the
established Record Date, eligible shareholders must own their
securities by market close on July 27,
2022, two days prior to the Record Date.
The proposed Rights Offering will include an over-subscription
privilege, which will entitle each rights holder that exercises in
full its basic subscription privilege the right to purchase
additional Units that remain unsubscribed. The availability of
basic subscription and over-subscription privilege will be subject
to certain terms and conditions, including pro-rata adjustments (if
any), to be set forth in the offering documents.
The Company has filed a Registration Statement on Form S-1 (the
"Registration Statement") with the Securities and Exchange
Commission relating to the Rights Offering. The Rights Offering,
which will commence following the effectiveness of the Registration
Statement, will only be made by means of a prospectus. The Company
expects to effectuate its S-1 shortly.
This announcement does not constitute an offer to sell or the
solicitation of any offer to buy any securities, nor will there be
any sale of securities in any state or other jurisdiction in which
any such offer, solicitation, or sale would be unlawful.
About Creatd
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 audience insights collected through
our 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
Forward-Looking Statements
Any statements that are not historical facts and that express,
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 statement speaks only as of the date on which such
statement is made, and we undertake no obligation to update any
forward-looking statement 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.