Professional Diversity Network Closes its IPO Friday, March 8, 4:22 PM ET
Professional Diversity Network (NASDAQ:IPDN), a developer and operator of online networks dedicated to serving diverse professionals in the United States, today announced that it closed on its initial public offering of 2,625,000 shares of its common stock at a price to the public of $8.00 per share. The gross proceeds to Professional Diversity Network was $21,000,000 before underwriting discounts and commissions and other offering expenses. The Company has granted Aegis Capital Corp., as representative of the underwriters, a 45 day option to purchase up to an additional 393,750 shares of common stock from the Company.
Aegis Capital acted as sole book-running manager for the offering. Merriman Capital acted as a co-manager for the offering.
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