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Paltalk Inc. Announces Closing of $11.64 Million Public Offering and Full Exercise of Overallotment Option
JERICHO, NY, Oct. 19, 2021 (GLOBE NEWSWIRE) -- via NewMediaWire -- Paltalk, Inc. (Nasdaq: PALT) (“Paltalk,” the “Company,” “we,” “our” or “us”), a leading
About this update from Intelligent Protection Management Corp.
[{"type":"text","content":"JERICHO, NY, Oct. 19, 2021 (GLOBE NEWSWIRE) -- via NewMediaWire -- Paltalk, Inc. (Nasdaq: PALT) (“Paltalk,” the “Company,” “we,” “our” or “us”), a leading communications software innovator that powers multimedia social applications, today announced the closing of its previously announced underwritten public offering of 1,350,000 shares of its common stock at a public offering price of $7.50 per share. In addition, Paltalk granted to Maxim Group LLC a 45-day option to purchase up to an additional 202,500 shares of common stock, at the public offering price less underwriting discounts, of which Maxim Group LLC has fully exercised its option to purchase such 202,500 shares of common stock. Gross proceeds before deducting underwriting discounts, commissions and other offering expenses are approximately $11.64 million, inclusive of the over-allotment. Maxim Group LLC acted as sole book-running manager for the offering. The public offering was made pursuant to an effective shelf registration statement on Form S-3 (File No. 333-260063), previously filed with the U.S. Securities and Exchange Commission (SEC) on October 5, 2021 and declared effective on October 14, 2021. The securities were offered by means of a prospectus supplement and accompanying prospectus, forming part of the registration statement. The prospectus supplement and accompanying prospectus relating to this offering have been filed with the SEC. Electronic copies of the prospectus supplement and the accompanying prospectus relating to this offering may be obtained from Maxim Group LLC at 300 Park Avenue, 16th Floor, New York, NY 10022, Attention: Syndicate Department, or by telephone at (212) 895-3745 or by email at [email protected]. Electronic copies of the prospectus supplement and accompanying prospectus are also available on the website of the SEC at www.sec.gov. This press release shall not constitute an offer to sell or the solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state or other jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such state or other jurisdiction. About Paltalk, Inc. (Nasdaq: PALT) Paltalk, Inc. is a communications software innovator that powers multimedia social applications. Our pro...