Professional Diversity Network Announces $2 Million Registered Direct Offering
July 27 2020 - 9:30AM
Professional Diversity Network, Inc. (Nasdaq: IPDN), today
announced it has entered into definitive agreements with
institutional investors for the purchase and sale of its common
stock at a purchase price of $1.35 per share in a registered direct
offering for gross proceeds of $2 million before deducting
expenses. The closing of the offering is expected to occur on or
about July 29, 2020, subject to the satisfaction of customary
closing conditions.
This offering is being made pursuant to an
effective shelf registration statement on Form S-3 (File No. 333-
227249) previously filed with the U.S. Securities and Exchange
Commission (the “SEC”). A prospectus supplement describing the
terms of the proposed offering will be filed with the SEC and will
be available on the SEC’s website located at http://www.sec.gov.
Interested parties should read in their entirety the prospectus
supplement and the accompanying prospectus and the other documents
that the Company has filed with the SEC that are incorporated by
reference in such prospectus supplement and the accompanying
prospectus, which provide more information about the Company and
such offering.
This press release shall not constitute an offer to
sell or the solicitation of an offer to buy nor shall there be any
sale of these securities in any state or jurisdiction in which such
offer, solicitation or sale would be unlawful prior to registration
or qualification under the securities laws of any such state or
jurisdiction.
About Professional Diversity Network,
Inc.
Professional Diversity Network, Inc. (PDN) is a
global developer and operator of online and in-person networks that
provides access to networking, training, educational and employment
opportunities for diverse professionals. Through an online platform
and our relationship recruitment affinity groups, we provide our
employer clients a means to identify and acquire diverse talent and
assist them with their efforts to recruit diverse employees. Our
mission is to utilize the collective strength of our affiliate
companies, members, partners and unique proprietary platform to be
the standard in business diversity recruiting, networking and
professional development for women, minorities, veterans, LGBT and
disabled persons globally.
Forward-Looking Statements
This press release contains certain forward-looking
statements based on our current expectations, forecasts and
assumptions that involve risks and uncertainties. Statements
regarding the offering, including the expected closing date,
constitute forward-looking statements. This release does not
constitute an offer to sell or a solicitation of offers to buy any
securities of any entity. Forward-looking statements in this
release are based on information available to us as of the date
hereof. Our actual results may differ materially from those stated
or implied in such forward-looking statements, due to risks and
uncertainties associated with our business, which include the risk
factors disclosed in our most recently filed Annual Report on Form
10-K and in our subsequent filings with the Securities and Exchange
Commission. Forward-looking statements include statements regarding
our expectations, beliefs, intentions or strategies regarding the
future and can be identified by forward-looking words such as
“anticipate,” “believe,” “could,” “estimate,” “expect,” “intend,”
“may,” “plan,” “should,” and “would” or similar words. We assume no
obligation to update the information included in this press
release, whether as a result of new information, future events or
otherwise. Our most recently filed Annual Report on Form 10-K,
together with this press release and the financial information
contained herein, are available on our website, www.prodivnet.com.
Please click on “Investor Relations.”
Press Contact for IPDN:
For further information, please contact:
Professional Diversity Network, Inc. Tel: (312) 778-6313 Email:
investors@ipdnusa.com
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