Creatd, Inc. Raises $4.0 Million in Private Placement of Notes Convertible at $5.00, and Warrants Exercisable at $4.50

Published on May 13, 2021

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.

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.

Forward Looking Statements

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