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Benzinga
Benzinga
Business
Anusuya Lahiri

EXCLUSIVE: Creatd To Raise Up To $40M Via Rights Offering At Premium To Fund Its Expansion Plans

Nasdaq Creatd Inc Vocal

Creatd Inc's (NASDAQ:CRTD) board approved a rights offering of up to $40 million for 20 million shares at $2 per unit. The offer price implies a premium of 147.5% to Creatd's May 25 closing price of $0.808.

What Happened? Creatd looks to distribute two subscription rights for each share which holders may acquire via conversion or exercise of preferred stock, warrants, or options. Each unit will consist of one share, one redeemable 5-year warrant exercisable for $3 per share, and one redeemable 5-year warrant exercisable for $6 per share.

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