Global Tech Industries Group (GTII) announced that they have executed a binding Letter of Intent regarding the acquisition of Creatd (CRTD) by GTII for $100 million of GTII restricted shares of common stock. Final acquisition terms will be subject to due diligence, regulatory approval, and approval of the boards and shareholders of both parties. As part of the LOI, Creatd has committed to a 30- day halt to any discussions with other potential acquirers. As due diligence and negotiations continue, Creatd intends to complete the spinoff of its media subsidiary, OG Collection Inc.
Claim 70% Off TipRanks This Holiday Season
- Unlock hedge fund-level data and powerful investing tools for smarter, sharper decisions
- Stay ahead of the market with the latest news and analysis and maximize your portfolio's potential
Published first on TheFly
See the top stocks recommended by analysts >>
Read More on GTII:
- Global Tech Industries Group, Inc. Bids $100 Million in Stock for Acquisition of Creatd.
- Global Tech Industries Group, Inc. and Creatd, Inc. begin Formal Merger Discussions.
- Global Tech Industries Group, Inc. files Application for Listing on Blockchain-Powered Securities Exchange, Upstream
- Global Tech retains ShareIntel-Shareholder to assist Christian Levine Law
- Global Tech Industries Group, Inc. retains ShareIntel-Shareholder Intelligence Services, LLC to assist Christian Levine Law Group in its investigation of possible naked short selling.