Professional Diversity Network sets terms for $10 million US IPO


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Professional Diversity Network, which provides online professional networking for minorities, announced terms for its IPO on Friday. The Chicago, IL-based company plans to raise $10 million by offering 1.0 million shares at a price range of $9 to $11. At the midpoint of the proposed range, Professional Diversity Network would command a market value of $62 million. 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 Nasdaq, Inc.

This article appears in: News Headlines , IPOs

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