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Technology & FinTech Leaders CREATD and TAMI Ventures Inc., Plan to Combine Forces in $23 Million Transaction
Technology & FinTech Leaders CREATD and TAMI Ventures Inc., Plan to Combine Forces in $23 Million Transaction.
About this update from Creatd Inc.
[{"type":"text","content":"\n\n\n\nTechnology & FinTech Leaders CREATD and TAMI Ventures Inc., Plan to Combine Forces in $23 Million Transaction\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\nTechnology & FinTech Leaders CREATD and TAMI Ventures Inc., Plan to Combine Forces in $23 Million Transaction\nPR Newswire\nNEW YORK, March 8, 2024\n\n\n\nPrivately-held TAMI Ventures will be acquired by Creatd, Inc. (OTCQB:CRTD)TAMI Ventures is a diversified portfolio of assets concentrated in the technology, advertising, media and information (TAMI) sectors. TAMI's in-house built Proprietary Technology platform and stack, focused on Social Media and Gaming Platform including Sport Betting, Fantasy, ESPORTS, Racing, Virtuals, Lottery, Casino Slots and Table GamesNEW YORK, March 8, 2024 /PRNewswire/ -- Creatd, Inc. (OTCQB:CRTD), a leading innovator in digital technology and creator-centric platforms based in the United States, is excited to announce a strategic plan to acquire TAMI Ventures Inc.\n\nCreatd, Inc. and TAMI Ventures have entered into a binding Letter of Intent (LOI) to solidify their commitment to the transaction. To further demonstrate their commitment and the seriousness of this transaction, a breakup fee of $500,000 has been agreed upon. This fee will be payable by either party should they decide to withdraw from the agreement under certain conditions.\nUnder the proposed all-prefered shares transaction, Creatd will welcome TAMI Ventures as a wholly owned subsidiary, issuing 2 year restricted preferred shares to TAMI Ventures shareholders at an aggregate valuation of $23 million, at a price per share to be determined prior to the close of the transaction. This way, common shareholders are protected from dilution.\nTAMI Ventures brings to the table an extensive portfolio of in-house developed, proprietary technology platforms, including social media, sports betting, fantasy sports, eSports, racing, virtuals, lotteries, casino slots, and table games.\nPost-transaction, the combined entity will target the rapidly expanding sports betting market, capitalizing on the sector's signific...