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NEW YORK, Nov. 21, 2022 /PRNewswire/ -- Creatd, Inc. (OTCQB:CRTD) ("Creatd" or the "Company"), a creator-first technology company, today announced further details of its upcoming Annual Meeting of Stockholders (the "Annual Meeting"), to be held on January 9, 2023 at 2pm EST. Shareholders of record can register to join by contacting ir@creatd.com.
All shareholders of record as of the close of business on November 18, 2022, are entitled to notice of, and to vote at, the Annual Meeting. In addition, the Annual Meeting will include a presentation from Creatd's founder and Chairman, reviewing the Company's plans for the OG Collection, Inc. media library as well as provide an update on its dual listing strategy and plans for listing its shares on Upstream, the blockchain-powered securities exchange. As previously announced, Creatd has submitted its application for an Upstream dual-listing and expects the review process to conclude by early January.
Commented Creatd CEO and Chairman Jeremy Frommer, "After reviewing multiple paths to list on a national exchange, including potential M&A transactions, our team has concluded that it is in the best interest of shareholders for our company to pursue a direct application to up-list onto the NYSE, as CRTD. We expect to begin the application process shortly and are targeting completion within the first quarter of 2023. This more direct path to a national exchange should be faster and less complicated than contemplated potential transactions that can be distracting, and may not offer fundamental future value. As Chairman and CEO, my primary goal is to create long term value only for the CRTD shareholder community and a higher quality market environment for its stock.
In addition to the anticipated application to the NYSE and pending application to dually list on Upstream, we are simultaneously exploring the spin-off of the OG Collectionmedia archive and web 3.0 assets. The Company's objective is to issue the spin-off in the most transparent way possible and to facilitate dividend distributions only to shareholders with shares held of record by either such person or entity or through a broker, dealer, agent, custodian or other nominee. Providing this monetization process proves viable, we could potentially replicate a similar spin-off strategy with numerous other assets from our direct to consumer product portfolio, including Dune, Camp, Basis and Brave.
As a public company in the microcap space, we are subject to market conditions, financing, and regulatory processes that can be complicated by obstacles and sometimes bad actors. In order to ensure fair and orderly processes, we will let our proxy solicitors know that we expect them to notify the clearing firms whose clients were shareholders of CRTD as of the Record Date of the voting items and procedures for our meeting. We will also ask them to notify all of the clearing firms and DTC whose clients may be short CRTD of this information, and advise them of their ongoing obligation to comply with Regulation SHO, aimed at curtailing naked short selling and similar practices. Having been in the financial services industry for over two decades including running the Prime Brokerage division for RBC and the Merger Arbitrage Trading group at Bank of America, I am well aware of how to vigorously pursue individuals who violate these obligations. I am committed to ensuring that our shareholders are protected and realize the ultimate long term value they are entitled to."
Posted In: CRTD
