Creatd Shares Gain 12% After Pricing Direct Offering
By Chris Wack
Creatd Inc. shares were up 12% to $4.64 after the company said
it has entered into a definitive agreement with investors for the
purchase and sale of its common stock at $4.50 a share for proceeds
of $3.8 million in a registered direct offering.
The closing of the offering is expected to occur on
Volume for the stock was 34.6 million shares at 1 p.m. ET,
compared to its 65-day average volume of 3.3 million shares. The
stock hit its 52-week low of $2.10 on Oct. 12, and 52-week high of
$9.80 on Friday.
Creatd shares traded at high as $7 a share earlier in the
session, after the company said its OG Gallery division was
releasing new non-fungible token art, a series of three photographs
of former President Donald Trump.
The company said the photographs were first unearthed by Creatd
founder and co-Chief Executive Officer Jeremy Frommer within a
collection acquired from creditors of Bob Guccione, the CEO of
Creatd said the asking price for the Trump photo NFT is 240
ethereum, or about $990,000 at current ethereum rates. The buyer
will also receive the original high-resolution JPG of the
photograph, plus a large scale 1/1 print of the photograph in a
gilded frame, all authenticated by the OG Collection curation team,
the company said.
Write to Chris Wack at firstname.lastname@example.org
(END) Dow Jones Newswires
October 25, 2021 13:20 ET (17:20 GMT)
Copyright (c) 2021 Dow Jones & Company, Inc.