Professional Diversity Network announces 1 for 8 reverse split effective Sept 27

• Professional Diversity Network (NASDAQ:IPDN) has filed for 1-for-8 reverse stock split of its common stock that is expected to become effective with tomorrow's market open  to regain compliance with the $1.00 per share minimum bid price requirement for continued listing on the Nasdaq.
• Post-split outstanding shares will number ~1.8M, from about 14.5M pre-split shares and issued shares will reduce to ~3.1M from 25M. Fractional shares will be rounded up to a whole share.
• Continental Stock Transfer & Trust Company will be acting as the exchange agent.
• Press Release