Creatd Inc. (OTC:CRTD) Stock Extends Rally: Jumps 20% In 2 Sessions

Considering the 9% gain recorded by the stock on Monday, it is likely that the Creatd Inc. (OTC:CRTD) stock would be on the radars of many investors. The company announced yesterday that a $50 million transaction had been completed successfully with Murge E-Commerce Inc. As per the terms of the agreement, Creatd picked up a 49% equity stake in Murge.

Creatd Completes $50 Million Equity Facility, Acquiring 49% Interest in Murge E-commerce Inc.

Additionally, the agreement also featured protection against dilution in order to safeguard the interests of Creatd shareholders. In order to complete the transaction, the company contractually established 100 million shares of its common stock for underlying the preferred Murge securities. The whole move was facilitated through an equity reserve from Pacific Stock Transfer Company.

The agreement was strategic in nature and was aimed at creating maximum value for the company’s investments while staying on track for the growth aims. In the news release, the company also revealed that the businesses were going to collectively generate more than $30 million in revenues and $8 million in EBITDA earnings in 2024.

The company aims to bring about significant growth by integrating its AI strategies and workflows into the e-commerce portfolio of Murge. That will help Creatd in scaling up these brands with considerable efficiency and boost consumer engagement.

Key Quote

Brad Gunn, CEO of Murge E-commerce Inc., commented, “Formalizing our partnership with Creatd allows us to accelerate our acquisition strategy and deliver substantial growth across our portfolio. With Creatd’s financial, operational, and technological expertise, we are well-positioned to rapidly scale our identified e-commerce brands, driving exceptional value for all stakeholders.”