Benzinga | Jun 17, 2021 12:06PM EDT

Creatd Raises $2.4M Via Secondary Offering At $18% Discount

* Vocal parent Creatd Inc (NASDAQ:CRTD) priced 750,000 shares at $3.4 per share to raise $2.4 million in a secondary public offering.

* The offer price signifies a 17.7% discount to the June 16 closing price of $4.13.

* The offering proceeds will serve general corporate purposes.

* The underwriters have a 30-day option to purchase additional shares up to 112,500.

* Creatd recently announced its plans to acquire a 55% stake in talent management and public relations agency WHE Agency for $275,000 in cash and $660,000 in stock.

* Creatd also recently acquired an additional 56% membership interest in consumer health food provider Plant Camp, LLC for an undisclosed sum.

* Creatd held $2.8 million in cash and equivalents as of Mar. 31, 2021.

* Price action: CRTD shares traded lower by 15.7% at $3.48 on the last check Thursday.