Professional Diversity Network, Inc. (IPDN) announced on December 10, 2024, an additional investment in QBSG Limited. The company purchased a 6% right in QBSG Limited’s distributions and dividends, pursuant to a Profit Participation Agreement with Koala Malta Limited. This investment took place on December 5, 2024.
The transaction involved the issuance of 1,136,363 shares of IPDN’s common stock, valued at $500,000, and a cash payment of $700,000. Following this, IPDN now holds the right to receive 15% of QBSG Limited's declared distributions and dividends, building on a previous 9% stock purchase from September 27, 2022. QBSG Limited is obligated to distribute at least 50% of its profits as dividends annually.
This strategic move aims to leverage IPDN's diversity network to expand its job boards into the blockchain and fin-tech industries. The investment is intended to open new opportunities for diverse talents in these rapidly growing sectors, aligning with IPDN's mission to foster inclusion.
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