Paltalk closes $11.64M public offering, including full over-allotment exercise

INTELLIGENT PROTECTION MANAGEMENT CORP.

Gross proceeds of approximately $11.64 million from sale of 1,552,500 shares (including full exercise of 202,500-share over-allotment) at $7.50 per share.
Net proceeds to the company after underwriting discounts and estimated expenses are about $10.8 million.
Maxim Group LLC acted as sole book-running manager for the offering.
Proceeds intended for development costs, advertising, marketing, potential acquisitions, and working capital.
Underwritten offering closed on October 19, 2021; underwriters granted a 45-day over-allotment option that was exercised in full.

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