Paltalk, Inc. Announces Pricing of $3.5 Million Underwritten Public Offering and Uplisting to Nasdaq

Paltalk, Inc., a leading communications software innovator that powers multimedia social applications, announced the pricing of its underwritten public offering of 1,159,400 shares of common stock at a price to the public of $3.00 per share. The shares of common stock are expected to begin trading on The Nasdaq Capital Market, on August 3, 2021, under the symbol “PALT”. Paltalk expects to receive gross proceeds of approximately $3.5 million, before deducting underwriting discounts and commissions and other estimated offering expenses.

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The Company has granted the underwriter a 45-day option to purchase an additional 173,910 shares of common stock at the public offering price per share, less the underwriting discounts and commissions, to cover over-allotments, if any. The offering is expected to close on August 5, 2021, subject to satisfaction of customary closing conditions.

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Maxim Group LLC is acting as sole book-running manager for the offering.

The offering is being conducted pursuant to the Company’s registration statement on Form S-1 (File No. 333-257036), as amended, and as previously filed with and subsequently declared effective by the Securities and Exchange Commission (“SEC”). A final prospectus relating to the offering will be filed with the SEC and will be available on the SEC’s website at http://www.sec.gov. Electronic copies of the final prospectus relating to this offering, when available, may be obtained from Maxim Group LLC, 300 Park Avenue, 16th Floor, New York, NY 10022, at (212) 895-3745.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy any of the securities described herein, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.