Professional Diversity: Slumps on pricing stock offering at discount

Professional Diversity Network

27/07/2020 16:06

** Online services company's shares  IPDN.O  plunges ~25% to
$1.40 
    ** IPDN announces $2 million registered direct offering at
$1.35/shr  urn:newsml:reuters.com:*:nGNXvHQ2D
    ** Purchase price represents a steep discount of ~30% to
stock's last close  urn:newsml:reuters.com:*:nGNXvHQ2D
    ** IPDN has 10.9 mln shares outstanding at ~$21 market cap,
per Refinitiv data
    ** Stock has gained ~52% so far this year 

 (Reporting by Arundhati Sarkar in Bengaluru)
 ((Arundhati.Sarkar@thomsonreuters.com;
twitter.com/Arundhati_05; +1 646 223 8780 Ext: 2776;))