trending Market Intelligence /marketintelligence/en/news-insights/trending/lc9jOc1brWTpP85JrMho3w2 content esgSubNav
In This List

Fund discloses 15.8% stake in Professional Diversity Network, board nominating rights

Podcast

Next in Tech | Episode 99: Like Vegas, CES is back!

Blog

Insight Weekly: PE firms shift strategies; bank earnings kick off; bankruptcies plummet

Blog

Tech M&A Outlook: Back on track in 2023?

Blog

Insight Weekly: Stocks limp into 2023; GCC banks set for rebound; deep-sea mining faces pushback


Fund discloses 15.8% stake in Professional Diversity Network, board nominating rights

White Winston Select Asset Funds LLC and its managers declareda 15.8% stake in Professional DiversityNetwork Inc. and disclosed an agreement withthe company that will allow the shareholder group to nominate directors to the company'sboard.

The fund beneficially owns 2,750,000 shares of the company viatwo immediately exercisable warrants to purchase shares. The shares can be boughtfor about $137,600.25 at an exercise price of 25 cents per share if the fund andits managers decide to purchase the common shares underlying the warrants. The warrantswill expire June 30, 2021.

The fund also has a warrant to buy an additional 1 million sharesof the company's stock, which will be exercisable five years from Dec. 30, at $2.50per share, according to a Schedule 13D filed July 11.