Creatd (NASDAQ: CRTD), the parent company of Vocal, today announced its entry into definitive securities purchase agreements in connection with a private placement of its Series E Convertible Preferred Stock (the “Preferred Stock”) and warrants to existing shareholders as well as new institutional investors. Upon the closing of the financing, expected to occur on or prior to Jan. 4, 2021, Creatd expects to receive approximately $7.77 million in gross proceeds, not including any proceeds that may be received upon exercise of the warrants. The company intends to use the net proceeds of the financing to satisfy Nasdaq’s stockholders’ equity listing requirements as well as to further accelerate its business plan, social media and digital marketing initiatives, pay non-commission financing expenses, repay all of its minimal remaining outstanding debt, and fund any additional working capital needs and accretive acquisitions.
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About Creatd Inc.
Creatd empowers creators, brands and entrepreneurs through technology and partnership. Its flagship technology, Vocal, is a best-in-class creator platform. For more information about Creatd and its Vocal platform, visit www.Creatd.com and www.Vocal.media.
NOTE TO INVESTORS: The latest news and updates relating to CRTD are available in the company’s newsroom at http://ibn.fm/CRTD
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