- The Company is filing an OTC Voluntary Symbol Change Request to change its ticker from $CRTD to $VOCL.
- The decision to change the ticker symbol to $VOCL aligns with Creatd's commitment to its flagship Vocal platform and its related agency, Vocal for Brands.
- The company plans to spin off Creatd Ventures DTC ecommerce division to shareholders as well, immediately following the spin-off of OG Collection Inc. to its shareholders.
NEW YORK, March 29, 2023 /PRNewswire/ -- Creatd, Inc. ($CRTD) ("Creatd" or the "Company"), the parent company of Vocal, an all-in-one social platform where anyone can share their stories, build an audience, and be rewarded, today announced that it will change its ticker symbol to $VOCL.
The decision to change the ticker symbol is part of Creatd's strategy to better reflect its brand and strategic direction, as well as increase visibility and differentiate itself from its competitors. Overall, the change in ticker symbol to VOCL represents an important milestone for Creatd, as the company looks to spin off or sell its current non-core businesses. This will further strengthen its position as a leading technology platform for creators and drive long-term value for its shareholders.
As part of its refocused strategy, the company plans to officially spin off its direct-to-consumer business, Creatd Ventures, which owns brands, Dune, Basis, Camp, and Brave, later this year. This decision follows the already announced spin-off to shareholders of the OG Collection, Inc. The legacy companies will be spun off on blockchain exchanges as special dividends to all $CRTD shareholders of a to be announced record date.
Creatd CEO, Jeremy Frommer, commented, "We are excited to take this next step in the evolution of $CRTD to the future $VOCL. The marketplace and current economic environment make it significantly more valuable for a company to spin off its matured non-core assets, particularly with the advent of blockchain exchanges where the assets can be valued without exposure to manipulation and abusive trading practices. The change will better reflect the company's core brand and strategy and is the first step in changing the company's CUSIP, and creating future corporate actions. Our Vocal platform has been gaining tremendous momentum and has quickly become the primary focus and revenue generator in our portfolio. By focusing our efforts on this platform, we believe we can better serve the needs of our creators and drive long-term value for our shareholders, and reduce operating overhead."
Forward Looking Statements
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.