Professional Diversity Network, Inc. 8-K

What Happened

• On April 28, 2026, Professional Diversity Network, Inc. (the “Company”) entered into a Global Amendment with Streeterville Capital, LLC that amends the Securities Purchase Agreement originally dated September 5, 2025. The amendment reduces the defined “Commitment Amount” under the transaction documents from $20,000,000 to $8,000,000 and otherwise leaves the agreement in effect except as expressly modified.
• The Global Amendment also changes how the Minimum Balance Amount is calculated: for every $1.00 the Company pays toward the outstanding balance of a Pre‑Paid Purchase, the Minimum Balance Amount may be reduced by $0.70, and that corresponding amount may be released from the Deposit Account to the Company upon written request. Each release must be at least $50,000. The Global Amendment is filed as Exhibit 10.1 to the 8‑K.

Key Details

• Parties: Professional Diversity Network, Inc. and Streeterville Capital, LLC.
• Commitment amount reduced from $20,000,000 to $8,000,000 (a $12,000,000 reduction).
• Minimum Balance release mechanics: $1 paid → $0.70 potential reduction/release; minimum release amount $50,000.
• Effective date of the Global Amendment: April 28, 2026; original Securities Purchase Agreement dated September 5, 2025 remains in force except as amended.

Why It Matters

• The amendment meaningfully lowers the investor’s committed funding (by $12M), which could affect the company’s available external financing and liquidity plans.
• The modified release mechanics provide a mechanism to recover some deposited funds as the Company repays pre‑paid purchases (70 cents released per $1 repaid), but releases must meet the $50,000 minimum, which may limit small or frequent access.
• Investors should note the company and the investor reaffirmed the remaining transaction documents remain in effect except for these changes; review future filings for updates on liquidity, use of proceeds, or additional financing arrangements.