other material
confidence high
sentiment neutral
materiality 0.65
Creatd launches rights offering of up to 20M units with $1.00 warrants; Q2 revenue up 45% YoY
Creatd, Inc.
- Each unit: 1 share + 1 non-tradeable 5-year warrant at $1.00; price at VWAP between S-1 effective date and record date.
- Proceeds to fund expansion plan targeting FY2023 gross revenue up to $40M.
- Q2 2022: gross revenue +45% YoY, net revenue +67% YoY, operating expenses -10% YoY.
- Negative cash from ops expected ~$4.5M in Q3; monthly burn to drop below $1M by FY2022 end.
- Previous rights offering abandoned in July; cash flow break-even targeted for Q3 2023.