debt
confidence high
sentiment neutral
materiality 0.60
Creatd raises $1.5M via convertible debenture; conversion at $0.20, 6-month term
Creatd, Inc.
- Principal amount $1,666,650 with 10% OID; net proceeds $1,500,000 from one accredited investor.
- Debenture convertible at $0.20/share, matures April 24, 2023; extendable 6 months at company option.
- Lock-up agreements with May and July investors; they exchange warrants for replacement warrants.
- Company to pay $750,000 to prior investors from proceeds; future financing sharing of 50% of gross proceeds.
- Series C/D warrants reduced from 1,550,000 to 1,536,607 each; Series E/F from 1,075,000 to 807,143 each.