Professional Diversity Network, which provides online professional networking for minorities, announced terms for its IPO on Friday. The Chicago, IL-based company plans to raise $10 million by offering 1.0 million shares at a price range of $9 to $11. At the midpoint of the proposed range, Professional Diversity Network would command a market value of $62 million. Professional Diversity Network, which was founded in 2007 and booked $6 million in sales for the 12 months ended 9/30/2012, plans to list on the NASDAQ under the symbol IPDN. Aegis Capital is the sole bookrunner on the deal.
