Business
Jerrick Media Holdings, Inc. Secures Outstanding Conversions, Achieves Funding Milestones and Accelerates Momentum Towards Key Roadmap Metrics
Jerrick Media Holdings, Inc. Secures Outstanding Conversions, Achieves Funding Milestones and Accelerates Momentum Towards Key Roadmap Metrics.
About this update from Creatd Inc.
[{"type":"text","content":"\n\n\n\nJerrick Media Holdings, Inc. Secures Outstanding Conversions, Achieves Funding Milestones and Accelerates Momentum Towards Key Roadmap Metrics\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n\n\n\n\n\n\nJerrick Media Holdings, Inc. Secures Outstanding Conversions, Achieves Funding Milestones and Accelerates Momentum Towards Key Roadmap Metrics\n- After securing the needed conversions for funding, in a further show of confidence, current and new investors participated in an additional $433,000 of common stock and warrant private placement.\n- New industry partnerships and platform integrations continue to add long term value to content creators and brands on the Vocal platform.\nPR Newswire\nNEW YORK, Oct. 24, 2018\n\n\n\nNEW YORK, Oct. 24, 2018 /PRNewswire/ -- Jerrick Media Holdings, Inc., (OTCQB: JMDA) (the \"Company\" or \"Jerrick\"), a technology company and the creators of Vocal, today announced the conversion of an additional $1,758,214 of debt and preferred stock into 8,960,517 shares of the Company's common stock. As inducement for converting their debt and preferred stock into shares of the Company's common stock, the Company issued those debt holders and preferred stockholders 4,480,261 warrants to purchase shares of the Company's common stock at an exercise price equal to $0.30 per share, that expire five years from the date of issuance. The Company also secured an additional $433,000 in capital commitments, amounting to a total of $3,466,290 raised in its private placement offering (the \"Offering\"). Each unit of the Offering consists of one (1) share of common stock and a warrant to purchase one (1) share of common stock and were sold at a price of $0.25 per unit. The warrants are exercisable for a period of five years at an exercise price of $0.30 per share.\nTogether with the $12,138,152 of debt and preferred stock already converted into equity earlier this month, as specified in the S-1 filed today, October 24, brings the total amount of converted debt and preferred to $13,896,233. With these conversions and today's S-1 filing, the Company has now completed t...