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

Published on July 25, 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.

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.

Forward Looking Statements

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