Current Report Filing (8-k)
December 12 2017 - 2:01PM
Edgar (US Regulatory)
UNITED
STATES
SECURITIES
AND EXCHANGE COMMISSION
WASHINGTON,
D.C. 20549
Form
8-K
CURRENT
REPORT
Pursuant to Section 13 or 15(d)
of the Securities Exchange Act of 1934
Date
of Report (Date of Earliest Event Reported): December 8, 2017
Professional
Diversity Network, Inc.
(Exact
Name of Registrant as Specified in its Charter)
Delaware
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001-35824
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80-0900177
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(State
of other Jurisdiction
of Incorporation)
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(Commission
File
Number)
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(IRS
Employer
Identification
Number)
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801
W. Adams Street, Sixth Floor, Chicago, Illinois
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60607
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(Address
of Principal Executive Offices)
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(Zip
Code)
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Registrant’s
telephone number, including area code:
(312) 614-0950
(Former
name or former address, if changed since last report.)
Check
the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant
under any of the following provisions:
[ ]
Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
[ ]
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
[ ]
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
[ ]
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Indicate
by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405
of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging
growth company [X]
If
an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for
complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. [ ]
Item
3.02 Unregistered Sales of Equity Securities
On
December 8, 2017, Professional Diversity Network, Inc. (the “Company”) sold 18,200 shares of common stock (each a
“Share” and collectively the “Shares”) at a price of $3.49 per Share for gross proceeds of $63,518.00.
The per Share purchase price reflected a ten percent (10%) discount from the closing price of the Company’s common stock
on December 7, 2017.
The
issuance of the Shares is exempt from registration due to the exemption found in Regulation S promulgated by the Securities and
Exchange Commission under the Securities Act of 1933, as amended (the “Securities Act”). These sales were offshore
transactions since all of the offerees were not in the United States and the purchasers were outside the United States at the
time of the purchase. Further, there were no directed selling efforts of any kind made in the United States either by the Company
or any affiliate or other person acting on the Company’s behalf in connection with the offering. All offering materials
and documents used in connection with the offers and sales of the securities included statements to the effect that the securities
have not been registered under the Securities Act and may not be offered or sold in the United States or to U.S. persons unless
the securities are registered under the Securities Act or an exemption therefrom is available, and that hedging transactions involving
the Shares may not be conducted unless in compliance with the Securities Act. Each purchaser certified that it is not a U.S. person
(as that term is defined in Regulation S) and is not acquiring the Shares for the account or benefit of any U.S. person and agreed
to resell the Shares only in accordance with the provisions of Regulation S, pursuant to registration under the Securities Act
or pursuant to an available exemption from registration. The Shares sold are restricted securities and the certificates representing
the Shares will be affixed with a standard restrictive legend, which states that the Shares cannot be sold without registration
under the Securities Act or an exemption therefrom.
SIGNATURES
Pursuant
to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf
by the undersigned hereunto duly authorized.
Date:
December 12, 2017
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PROFESSIONAL
DIVERSITY NETWORK, INC.
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By:
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/s/
Jiangping (Gary) Xiao
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Jiangping
(Gary) Xiao
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Chief
Financial Officer
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