Yesterday there was no news about Professional Diversity Network Inc (NASDAQ:IPDN) but the company’s stock was in action nonetheless and managed to clock gains of as much as 8%.
On top of that, the stock has managed to garner gains of 8% in the premarket trading period as well. In this situation, it might be a good idea for investors to take a closer look at Professional Diversity Network. In this regard, it should be noted that back on September 22 this year the company had signed a stock purchase agreement by way of which it was going to sell as many as 948767 shares of the Professional Diversity Network common stock to Cosmic Forward Limited.
However, investors also need to keep in mind that Cosmic Forward was an existing stockholder in the company prior to agreeing to the stock purchase deal. Professional Diversity Network offered the common shares at $1.054 each with the aim of generating gross proceeds to the tune of around $1,000,000.
The purchase price of the common stock actually reflected a 15% discount on the closing price of the Professional Diversity Network common stock on September 21. It remains to be seen if the stock can add to its gains today.
