other material
confidence high
sentiment neutral
materiality 0.60
IPDN prices $2.0M public offering of units and pre-funded warrants at $0.28
Professional Diversity Network, Inc.
- Gross proceeds ~$2.0M from 1.62M units at $0.28 and 5.524M pre-funded units at $0.2799.
- Each unit includes one share or pre-funded warrant plus a common warrant exercisable at $0.28, expiring in 3 years.
- Maxim Group is sole placement agent; cash fee ~$119,986 (6%) plus up to $75,000 expense reimbursement.
- Company to pay Streeterville 20% of gross proceeds (~$400k) for 75-day standstill; net proceeds for working capital.
- Insiders subject to 90-day lock-up; company restricted from further equity issuance for 75 days.