Creatd To Increase Ownership in Dune and WHE in All-Stock Transactions Priced Above Market
Company signs MOUs for all-stock deals to increase ownership stake in Dune, Inc., and WHE Agency, Inc., respectively
The intended above-market transactions would work to strengthen the Company's balance sheet as well as help ready the Company for any potential asset spin-offs.
NEW YORK, Aug. 18, 2022 /PRNewswire/ -- Creatd, Inc. (Nasdaq CM: CRTD) ("Creatd" or the "Company"), a creator-first holding company, today revealed its plans to purchase additional shares in two of its subsidiary companies, Dune, Inc. ("Dune") and WHE Agency, Inc. ("WHE"). Following the close of the proposed transactions, the Company's ownership stake in Dune would increase to 70%, and its ownership stake in WHE would increase to 61%, thereby improving the Company's balance sheet, while at the same time helping to ready the Company to explore a variety of future financing opportunities, including the potential spin-off of certain Creatd assets.
Under the terms of the Memorandum of Understanding (MOU) signed with Dune, Creatd will purchase an additional 20% ownership stake in exchange for approximately $360,000 in Creatd common stock at a price of $1.32 per share, or approximately 270,000 shares. Under the terms of the MOU signed with WHE, the Company will purchase an additional 17% ownership stake in exchange for approximately the same purchase price.
Creatd, Inc. (Nasdaq CM: CRTD) is a creator-first technology holding company and the parent company of the Vocal platform. Our mission is to empower creators, entrepreneurs, and brands through technology and partnership. We accomplish this through Creatd's four business pillars: Creatd Labs, Creatd Partners, Creatd Ventures, and Creatd Studios.
Creatd IR: https://investors.creatd.com;
Vocal Platform: https://vocal.media;
Investor Relations Contact: firstname.lastname@example.org
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.
View original content to download multimedia:https://www.prnewswire.com/news-releases/creatd-to-increase-ownership-in-dune-and-whe-in-all-stock-transactions-priced-above-market-301608307.html
SOURCE Creatd, Inc.