Creatd (CRTD) Sells Stock at $4.50 in Direct Offering

Creatd, Inc. (Nasdaq: CRTD) entered into a definitive agreement with investors for the purchase and sale of its common stock at a purchase price of $4.50 per share for aggregate gross proceeds of $3,825,000 in a registered direct offering. The closing of the offering is expected to occur on October 27, 2021, subject to the satisfaction of customary closing conditions.

The Benchmark Company LLC is acting as exclusive placement agent for the offering.

The Company anticipates the aggregate net proceeds from the offering will be approximately $3.6 million, after placement agent fees. Creatd intends to use the net proceeds it receives for general corporate purposes.

Additionally, between October 22-25, 2021, the Company saw the exercise of outstanding warrants to purchase 875,430 shares of common stock resulting in gross proceeds of $3,939,435, as well as the conversion of $1,141,669 in convertible debt resulting in the issuance of 228,334 shares of the Company's common stock.

Commented Creatd co-CEO Jeremy Frommer, "With these aforementioned transactions, our Company's financial position is the strongest it has ever been."

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