IPDN enters $20M equity line with Streeterville Capital; initial draw net $3.4M

Professional Diversity Network, Inc.

Securities purchase agreement with Streeterville Capital allows up to $20M in prepaid advance purchases over two years.
Initial prepaid purchase of up to $8.655M; net cash proceeds of $3.398M plus $2,275 for 227,500 pre-delivery shares.
Additional $4.6M to be funded within 30 days subject to DACA, guaranty, and pledge of subsidiary IPDN Holdings.
Purchase price per share set at 80% of lowest volume-weighted average price over 10 trading days, floor $1.608.
Company must obtain shareholder approval for issuance beyond Nasdaq 19.99% cap; commitment shares of 22,197 deferred.

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