Professional Diversity Network Prices $2M Public Offering Of 7.14M Units At $0.28/Unit

Professional
Diversity Network, Inc. (NASDAQ:IPDN) ("IPDN" or the "Company"), a technology holding
company focused on the application of AI technologies and AI-powered solutions, today
announced the pricing of its public offering of 7,144,000 units (each, a "Unit"), on a best
efforts basis, at an offering price of US$0.28 per Unit (the "Offering"). Each Unit consists of
one share of common stock of the Company, with a par value of US$0.0001 per share (the
"Common Stock"), or one pre-funded warrant (the "Pre-Funded Warrant") to purchase one
share of Common Stock in lieu thereof, and one warrant to initially purchase one share of
Common Stock (the "Common Warrant"). Each Unit consisting of a Pre-Funded Warrant in
lieu of a share of Common Stock and a Common Warrant is referred to herein as a "Pre-
Funded Unit." The public offering price per Pre-Funded Unit is $0.2799, which is equal to the
public offering price per Unit to be sold in the Offering, minus the $0.0001 exercise price per
Pre-Funded Warrant. The aggregate gross proceeds from the Offering are expected to be
approximately US$2.0 million, prior to deducting placement agent fees, legal fees,
administrative and other offering-related expenses.
Each Common Warrant will be immediately exercisable upon issuance at an initial exercise
price of US$0.28, which is equal to the public offering price per Unit. The warrant exercise
price is subject to customary anti-dilution adjustments in connection with share splits, share
combinations, dividend distributions, subsequent equity sale and other corporate
restructurings. The Common Warrants will expire on the third anniversary of the issuance
date.
The closing of the Offering is currently expected to take place on August 13, 2026, subject to
the satisfaction of customary closing conditions set forth in the securities purchase
agreements dated August 12, 2026, entered into by and between the Company and the
purchasers party thereto and related transaction documents. The Company anticipate using
the net proceeds of this Offering to pay an existing equity line of credit investor as
consideration for its agreement to a 75-day standstill period, during which such investor will
not seek to make any purchases of Common Stock under the purchase facility and for
working capital and other general corporate purposes.
Maxim Group LLC is acting as the sole placement agent for the Offering.