Professional Diversity Network increases proposed IPO deal size to $20mm


Professional Diversity Network, which provides online professional networking for minorities, raised the proposed deal size for its upcoming IPO on Wednesday. The Chicago, IL-based company now plans to raise $20 million by offering 1.8 million shares at a price range of $10 to $12. The company had previously filed to offer 1.0 million shares at a range of $9 to $11. At the midpoint of the revised range, Professional Diversity Network will double its previously anticipated proceeds. Professional Diversity Network, which was founded in 2007 and booked $6 million in sales for the 12 months ended 9/30/2012, plans to list on the NASDAQ under the symbol IPDN. Aegis Capital is the sole bookrunner on the deal.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.

This article appears in: News Headlines , IPOs

Referenced Stocks: IPDN

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