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Creatd Extends Record Date for its $40MM Rights Offering at a Premium to Market, Further Pursuing Enforcement of Regulation SHO

Creatd Extends Record Date for its $40MM Rights Offering at a Premium to Market, Further Pursuing Enforcement of Regulation SHO

Creatd Extends Record Date for its $40MM Rights Offering at a Premium to Market, Further Pursuing Enforcement of Regulation SHO

PR Newswire

NEW YORK, July 26, 2022

  • Creatd resets its Record Date and provides updated rights offering calendar.
  • Creatd notifies information agent D.F. King and DTC in order to inform the custodians and prevent potential violations of regulation SHO.

NEW YORK, July 26, 2022 /PRNewswire/ -- Creatd, Inc. (Nasdaq CM: CRTD) ("Creatd" or the "Company"), today announced that it has revised the record date for its Rights Offering from July 29, 2022, to August 4, 2022. Additionally, the Company has sent the following to its information agent as well as to the DTC.

Creatd Extends Record Date for its $40MM Rights Offering at a Premium to Market, Further Pursuing Enforcement of Regulation SHO

The below rights offering calendar has been updated to reflect the changes.

Tuesday, August 2, 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

Thursday, August 4, 2022

Record Date – Cutoff date that determines the eligibility of shareholders to receive Rights entitlements

Thursday, August 11, 2022

Subscription Period Begins – Shareholders can start investing in Rights Offering at 9:00 AM ET

Thursday, August 25, 2022

Subscription Period Ends – 5:00 PM ET unless extended at the Company's sole discretion

"The new Record Date allows us six extra days needed to (a) discover the extent to which violation may have occurred and (b) prevent our clients' custodians from violations of Reg SHO during our rights offering, to which shorts may not establish proper "locate" and "close-out" positions for our shares and the non-transferable subscription rights to be distributed as a dividend. Short sellers cannot legally short nontransferable subscription rights where a locate is unavailable. The micro-cap space as a whole has been subject to questionable behavior in regards to financings and, in particular, naked short-selling that does not align with available data on questionable financial websites claiming to represent outstanding short interest. The adjustments announced today will help us focus on completing a successful rights offering while doing all we can to educate our shareholders and custodians," commented Jeremy Frommer, Creatd's Founder and Executive Chairman.

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 proprietary data collected from our multiple 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 

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.

 

(PRNewsfoto/Creatd, Inc.)

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SOURCE Creatd, Inc.