Professional Diversity Network Announces Pricing of Initial Public Offering of 2,625,000 Shares of Common Stock

CHICAGO, March 4, 2013 /PRNewswire/ -- Professional Diversity Network, Inc., a developer and operator of online networks dedicated to serving diverse professionals in the United States, today announced the pricing of 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 are expected to be $21,000,000 before underwriting discounts and commissions and other offering expenses. The Company has granted the representative of the underwriters a 45 day option to purchase up to an additional 393,750 shares of common stock from the Company. The shares are expected to begin trading on the NASDAQ Capital Market under the symbol "IPDN" on March 5, 2013. The offering is expected to close on March 8th, 2013 subject to customary closing conditions. 

Aegis Capital Corp. is acting as sole book-running manager for the offering.

Merriman Capital, Inc. is acting as a co-manager for the offering. 

A registration statement relating to these securities was declared effective as of March 4, 2013 by the Securities and Exchange Commission.  Copies of the prospectus related to the offering may be obtained from:  Aegis Capital Corp., Prospectus Department, 810 Seventh Avenue, 18th Floor, New York, NY 10019, telephone: (212) 813-1010, email: prospectus@aegiscap.com or Merriman Capital, Inc., Prospectus Department, 600 California St., 9th Floor, San Francisco, CA 94108; telephone: (415) 248-5683.

The prospectus and the final prospectus, when it is available, may also be obtained through the website of the Securities and Exchange Commission at http://www.sec.gov.

This press release shall not constitute an offer to sell or a solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

About Professional Diversity Network

Professional Diversity Network develops and operates online networks dedicated to serving diverse professionals in the United States. To date, we have been particularly focused on Hispanic-American and African-American professionals and recently launched additional websites dedicated to other diverse segments, including women, Asian-American, LGBT (lesbian, gay, bisexual and transgender), differently-abled and military professionals. We currently have over two million members and more than 3,000 companies and organizations, including 60% of the Fortune 500 companies, have listed job postings on our websites.

This press release contains forward-looking statements that involve risks and uncertainties. In some cases, you can identify forward-looking statements by the following words: "anticipate," "believe," "continue," "could," "estimate," "expect," "intend," "may," "ongoing," "plan," "potential," "predict," "project," "should," "will," "would," or the negative of these terms or other comparable terminology, although not all forward-looking statements contain these words. These statements involve known and unknown risks, uncertainties and other factors that may cause our or our industry's results, levels of activity, performance or achievements to be materially different from the information expressed or implied by these forward-looking statements.  For a more detailed description of these uncertainties and other factors, please see the Company's filings with the U.S. Securities and Exchange Commission.  Forward-looking statements speak only as of the date they are made, and the Company assumes no obligation to update or revise any of them in light of new information, future events or otherwise.

Contact: 

Professional Diversity Network
Myrna Newman, CFO
312-614-0931
mnewman@prodivnet.com

Investor Relations
Aimee Gordon/Robert Jones                                    
EVC Group                                                                   
212-850-6020/646-201-5447                                                                   
agordon@evcgroup.com / bjones@evcgroup.com

Media Relations
Janine McCargo
EVC Group
646-688-0425
jmccargo@evcgroup.com

Rachelle Pachtman
Pachtman Communications International
212-996-1715
rachelle@pachtman.com

SOURCE Professional Diversity Network, Inc.



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