FORT LEE, N.J., May 14, 2021 /PRNewswire/ -- Creatd, Inc.
(Nasdaq CM: CRTD) ("Creatd" or the "Company"), is pleased to
announce that it has closed a private placement of convertible
notes and warrants, led by Lind Global Macro Fund, L.P., an
institutional investment fund managed by The Lind Partners, LLC,
(together, "Lind"), for aggregate gross proceeds of $4.0 million. The financing also included two
additional investors, both of whom exercised their right to
participate, pursuant to the Company's December 2020 Preferred Series E offering. The
notes are convertible into shares of Creatd's common stock at a
price of $5.00 per share. The notes
carry an original issue discount, making the aggregate principal
amount $4.67 million. Additionally,
the Company issued the investors an aggregate of 1,090,908
warrants, exercisable at a price of $4.50 per share. The Benchmark Company acted as
exclusive Placement Agent for the financing.
![Creatd, Inc. Raises $4.0 Million in Private Placement of Notes and Warrants (PRNewsfoto/Creatd, Inc.) Creatd, Inc. Raises $4.0 Million in Private Placement of Notes and Warrants (PRNewsfoto/Creatd, Inc.)](https://mma.prnewswire.com/media/1510835/Creatd_Raises_4_mm_private_placement.jpg)
The Company anticipates the aggregate net proceeds from the
offering will be approximately $3.5
million, after deducting commissions and offering expenses.
Creatd intends to use the net proceeds from the offering for
general corporate purposes, as well as an increased marketing and
development spend.
Commenting on the financing, Creatd's CEO, Jeremy Frommer said, "Securing this funding with
Lind as the lead investor is an exciting moment for our company. It
allows us the opportunity to accelerate our strategic vision, as
well as to partner with a financial institution that acutely
understands the strength of our platform's native capabilities and
the valuable service it provides to users all across the creator
economy."
Jeff Easton, founder and managing
director of The Lind Partners, added, "At Lind, we seek first and
foremost to work with only the most dedicated, competent, and
passionate of management teams, and Creatd's certainly fits that
bill. We are pleased to partner with Creatd at such a crucial
moment in their evolution. We have strong confidence that our
investment will accelerate Creatd's momentum in achieving new
milestones and providing a much-needed forum for safe and
meaningful expression."
This private placement closed on May 14,
2021, and funds are expected shortly.
The securities underlying the conversion of the notes will be
registered pursuant to a Form S-1, to be filed with the Securities
and Exchange Commission (the "SEC") no later than June 7, 2021.
This press release does not constitute an offer to sell or the
solicitation of an offer to buy the securities, nor shall there be
any sale of the securities in any state or other
jurisdiction in which such offer, solicitation or sale would
be unlawful prior to the registration or qualification under the
securities laws of such state or other jurisdiction.
About The Lind Partners
The Lind Partners is an institutional fund manager and leading
provider of growth capital to small- and mid-cap companies publicly
traded in the US, Canada,
Australia and the UK. Lind makes
direct investments ranging from US$1
to US$30 million, invests in
syndicated equity offerings and selectively buys on market. Lind
has completed more than 100 direct investments totaling over
US$1 Billion in value and has been a
flexible and supportive capital partner to investee companies since
2011. For more information, visit
https://www.thelindpartners.com.
About Creatd
Creatd, Inc. (Nasdaq CM: CRTD) is a creator-first technology
company and the parent company of the Vocal platform. Our mission
is to empower creators, entrepreneurs, and brands through
technology and partnership. We accomplish this through Creatd's
three main business pillars: Vocal Ventures, Creatd Partners, and
Recreatd.
For news and updates, subscribe to Creatd's newsletter:
https://creatd.com/newsletter
Investor Relations Contact: IR@creatd.com
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contained in our Securities and Exchange Commission filings.
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SOURCE Creatd, Inc.