PROFESSIONAL DIVERSITY NETWORK, INC. (NASDAQ:IPDN) Files An 8-K Entry into a Material Definitive Agreement

PROFESSIONAL DIVERSITY NETWORK, INC. (NASDAQ:IPDN) Files An 8-K Entry into a Material Definitive Agreement
Item 1.01 Entry into a Material Definitive Agreement.

On July 27, 2020, Professional Diversity Network, Inc. (“PDN”), entered into a Securities Purchase Agreement ‎(the “Agreement”) with institutional accredited investors.

to the Agreement, PDN offered and sold 1,481,484 shares of Common Stock (the “Shares”) at a per share price equal to $1.35 for gross proceeds of $2,000,003.40 to its Registration Statement on Form S-3 (Registration Statement No. 333-227249) (the “Transaction”).

The Agreement contains customary conditions, representations and warranties and covenants of each party for a transaction of this type. The closing of the Transaction is expected to close on or about July 29, 2020, subject to satisfaction of customary closing conditions.

The foregoing description of the offer and sale of the Shares does not purport to be complete and is qualified in its entirety by reference to the Agreement.

A copy of the form of the Agreement is attached hereto as Exhibits 10.1 and is incorporated herein by reference.

Item 8.01. Other Events.

On July 27, 2020, the Company issued a press release announcing the Transaction. A copy of the press release is attached hereto as Exhibit 99.1 and is incorporated herein by reference.

Item 9.01. Financial Statements and Exhibits.

(d) Exhibits

Professional Diversity Network, Inc. Exhibit
EX-5.1 2 ex5-1.htm   Exhibit 5.1     July 28,…
To view the full exhibit click here

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Professional Diversity Network, Inc. is an operator of professional networks with a focus on diversity. The Company serves various communities, including Women, Hispanic-Americans, African-Americans, Asian-Americans, Disabled, Military Professionals, and Lesbian, Gay, Bisexual and Transgender (LGBT). The Company’s segments include Professional Diversity Network (PDN Network), which includes online professional networking communities with career resources for the needs of various diverse cultural groups; National Association of Professional Women (NAPW Network), a women-only professional networking organization, and Noble Voice operations (Noble Voice), a career consultation and lead generation service. The Noble Voice call centers qualify callers for real-time job placement. The PDN Network consists of various online professional networking communities dedicated to serving diverse professionals in the United States and employers seeking to hire diverse talent.

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