Creatd Inc (VOCLD) has released an update.
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Creatd, Inc. has initiated a strategic financial maneuver by entering an exchange agreement with certain investors, converting their existing securities into shares of a new Series F Preferred Stock. This exchange allows investors to transform every 200 shares of common stock, convertible notes on a dollar-for-dollar basis, and every 400 warrants into one share of Series F Preferred, totaling an exchange of $3.9 million in notes and 1.5 million warrants for 7,713 preferred shares. The Series F Preferred Stock is set at a stated value of $1,000 per share, with conversion rights to common stock at $5.00 per share, and comes with voting rights and dividends on par with common shares, but with protective provisions against adverse changes without majority consent from the holders of Series F Preferred.
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