- Creatd today received approval from FINRA for a symbol change from $CRTD to $VOCL effective this Monday, April 3, 2023.
- Founder and CEO Jeremy Frommer has outlined plans to split Creatd into three separately traded public securities.
NEW YORK, March 31, 2023 /PRNewswire/ -- Creatd, Inc. $CRTD ("Creatd" or the "Company"), the parent company of Vocal, today has received approval from the Financial Industry Regulatory Authority (FINRA) for a symbol change for its common stock. Effective this Monday, April 3, 2023, the new ticker symbol for Creatd, Inc. will be $VOCL. The company believes that the new symbol better represents its brand and mission to empower creators worldwide, as it continues to expand its innovative social media platforms.
Founder and CEO Jeremy Frommer stated that, "We follow through on what we say. Changing the symbol to $VOCL and soon officially changing the name of the company from Creatd, Inc. to Vocal, Inc. is part of a larger effort to split the company into three distinct publicly traded businesses, with three distinct CUSIPs. These steps generate significant corporate actions. Creatd's legacy media archive, OG Collection Inc., is set to file an S-1 in accordance with plans to spin it off as a special dividend to $VOCL shareholders. The OG Collection Inc. will be assigned its own independent CUSIP and ticker symbol, potentially $OGCL."
Frommer continued, "The next step is to spin off Creatd Ventures, which houses the company's growing direct-to-consumer product businesses, including flagship product Basis, a hydration mix that is currently the company's best seller with a 2-3 times return on ad spend. We plan on listing Creatd Ventures on the tZero platform, with its own independent CUSIP and ticker symbol, potentially $CVEN, to be distributed to all $VOCL shareholders at a later date.
Once these spin-offs are completed, the plan is to then list $OGCL on tZERO and similarly to list $CVEN on Upstream. The final result will leave all tech assets related to Creatd's flagship product Vocal in $VOCL, with an expected change in CUSIP at the time of the Company's planned uplist of $VOCL to a national exchange, an action which would combat short sellers and increase its shareholder base on a global level.
It is important to note that while changing the company's name or symbol does not necessarily require a new CUSIP, the decision to change a CUSIP is typically made by the company and its transfer agent or custodian based on a variety of factors, such as changes in the company's structure or ownership, or changes in the terms of the security."
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