secwatch.observer — SEC 8-K summary
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Issuer:     Creatd, Inc. (CRTD)
CIK:        0001357671
Form:       8-K
Filed at:   2022-09-19T23:59:59+00:00
Accession:  0001213900-22-056905
Event type: other_material
Sentiment:  negative
Materiality: 0.75
Item codes: 1.01, 3.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Creatd raises $800K in direct offering, restructures debt with lower conversion price and cash burn covenant
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- Registered direct offering of 4M shares at $0.20/share, with warrants to purchase 4M shares at $0.20 exercise price for 5 years.
- Restructuring reduces conversion price of outstanding debentures and exercise price of warrants to $0.20, extending debenture maturity to March 31, 2023.
- Monthly cash burn capped at $600K, may increase by $150K for marketing with majority holder consent.
- Company grants first-priority security interest in all assets to holders; insiders sign 180-day lock-up agreements.
- Gross proceeds of $800K before expenses will be used for working capital and general corporate purposes.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1357671/000121390022056905/0001213900-22-056905-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1357671/000121390022056905/ea165882-8k_creatdinc.htm
  HTML page:      https://secwatch.observer/filing/0001213900-22-056905

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer