A global operator and developer of both offline and online networks Professional Diversity Network, Inc., provides access to networking, training, educational, and employment opportunities for diverse individuals. Recently, the company announced the completion of a market non-brokered financing where the company sold 380,295 shares priced at $3.91 a share which resulted in gross proceeds of around $1.5 million.
Professional Diversity Network plans to use the funding for working capital and other general corporate purposes.
These shares were issued under the exemption found in Regulation S promulgated by the Securities and Exchange Commission under the Securities Act of 1933, as amended (the “Securities Act”). The sale was an offshore transaction since the offeree/purchaser was outside the United States at the time of the purchase.
More details of the transaction can now be found in a Form 8K filed by the company with the SEC.
SOURCE Professional Diversity Network, Inc.
Edited by Victoria Haviland
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