Professional Diversity Network Announces Stock Purchase Agreement with AI Geometric Ltd

Professional Diversity Network, Inc. (NASDAQ: IPDN) revealed in an SEC filing on January 30, 2025, that the company has entered into a significant Stock Purchase Agreement with AI Geometric Ltd, a United Kingdom-based company. The Stock Purchase Agreement outlines the sale of 1,300 shares of AI Geometric Ltd to Professional Diversity Network, representing 13% of the total issued and outstanding shares of the seller, at a price of US$1,300,000.

The board of directors of Professional Diversity Network had approved this transaction on January 17, 2025, with the closing taking place on January 27, 2025. The Stock Purchase Agreement includes customary representations, warranties, and covenants typical for such transactions, along with indemnification obligations in case of breaches.

While the summary provided in the filing isn’t exhaustive, the full details of the agreement are available in Exhibit 10.1 attached to the filing for reference.

In light of this development, Professional Diversity Network’s common stock on the NASDAQ Stock Market LLC continues to trade under the symbol IPDN. The company’s principal executive offices are located at 55 E. Monroe Street, Suite 2120, in Chicago, Illinois, with a telephone number of (312) 614-0950.

This report did not suggest any immediate impact on the company’s standing as an emerging growth firm or its adherence to financial accounting standards. No extended transition period has been indicated by the registrant.

Exhibit 10.1 attached to the filing includes the detailed Stock Purchase Agreement dated January 26, 2025. Additionally, Exhibit 104 contains the necessary interactive data files.

Professional Diversity Network’s Chief Executive Officer, Adam He, signed off on the report, affirming its accuracy and completeness, on January 30, 2025.

The filing also included an exhibit (Exhibit 99.2) from Sharps Technology, Inc., announcing a successful $20.0 million underwritten public offering. The offering closed on January 29, 2025, and further details can be found in the accompanying exhibit.

Investors and stakeholders are encouraged to refer to the official SEC filings for comprehensive information regarding these recent developments.

It’s noteworthy that any forward-looking statements provided in these filings are subject to inherent risks and uncertainties and may not materialize as anticipated. Professional Diversity Network and Sharps Technology, Inc. advise potential investors to thoroughly review the filings available through the SEC for the most accurate and up-to-date information.

This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read Professional Diversity Network’s 8K filing here.

Professional Diversity Network Company Profile

Professional Diversity Network, Inc operates online professional networking communities with career resources in the United States. It operates through three segments: Professional Diversity Network (PDN Network), National Association of Professional Women (NAPW Network), and RemoteMore USA (RemoteMore).