Professional Diversity Network secures up to $20M equity line from Streeterville Capital, gets $3.4M initial proceeds

Professional Diversity Network, Inc.

Enters securities purchase agreement for up to $20M in pre-paid purchases of common stock.
Initial Pre-Paid Purchase of $8.655M principal (OID $640K); net proceeds ~$3.4M.
Additional $4.6M funding to be deposited within 30 days, secured by subsidiary pledge.
Conversion price at 80% of 10-day VWAP, floor $1.608; prepayment at 120%.
Proceeds for working capital, debt repayment, and general corporate purposes.

item 1.01item 3.02item 9.01

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