Direct Digital Holdings Inc. has announced an agreement to issue up to 50 million shares of Class A Common Stock to Continuation Capital, Inc. as part of a settlement relating to vendor payables totaling $3,020,932. The shares will be issued at 76% of the lower of two pricing formulas based on recent trading prices. In addition, Continuation Capital received a settlement fee of 95,000 shares. The issuance, approved by court order, will be exempt from registration under Section 3(a)(10) of the Securities Act of 1933.
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