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Jerrick Secures $2,025,525 in Funding Led by Mark Standish, Former Co-CEO of RBC Capital Markets, and Other Key Current Investors
Jerrick Secures $2,025,525 in Funding Led by Mark Standish, Former Co-CEO of RBC Capital Markets, and Other Key Current Investors.
About this update from Creatd Inc.
[{"type":"text","content":"\n\n\n\nJerrick Secures $2,025,525 in Funding Led by Mark Standish, Former Co-CEO of RBC Capital Markets, and Other Key Current Investors\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 Secures $2,025,525 in Funding Led by Mark Standish, Former Co-CEO of RBC Capital Markets, and Other Key Current Investors\nPR Newswire\nNEW YORK, May 7, 2019\n\n\n\nNEW YORK, May 7, 2019 /PRNewswire/ -- Jerrick Media Holdings, Inc., (OTCQB: JMDA) (the \"Company\" or \"Jerrick\"), a technology company and the creator of Vocal, today announced the closing of its offering of one-year, 10% Convertible Promissory Notes (the \"Notes\"), securing gross proceeds totaling $2,025,525 in a non-brokered financing. The current aggregate amount of cash proceeds from the offering includes $1,863,025 received to date as well as an additional $162,500 due upon the achievement of certain milestones as outlined in the Securities Purchase Agreement. The Notes are mandatorily convertible into shares of the Company's common stock at the lesser of $0.25 per share or the price of a subsequent qualified offering. Holders of the Notes received four-year stock purchase warrants to purchase a quantity of shares of the Company's common stock up to thirty-three percent (33%) of the number of shares of common stock into which the underlying Notes may be converted, at an exercise price of $0.30 per share.  The transaction was led by Mark Standish, former Co-CEO of RBC Capital Markets, and other key current investors.\n\n \n \n\n \nJerrick CEO Jeremy Frommer commented, \"Technology development and increasing revenue opportunities have enabled the company to raise capital at above market levels. This reflects the underlying value of our technology platform, Vocal, and the expertise of Jerrick's management team. The balance sheet is in a strong position and revenue traction is being continuously validated. I am thankful for the continued support of a united shareholder base. We continue to anticipate delivering near-breakeven cashflows as we exit fiscal year 2019.\"\nAbout Jerrick: Jerrick is a holding co...