Paltalk, Inc. – PALT

Paltalk, Inc. (Nasdaq: PALT), relating to its proposed merger with Newtek Technology Solutions, Inc. Under the terms of the agreement, Paltalk has agreed to pay Newtek an amount in cash equal to $4,000,000, subject to customary purchase price adjustments, and issue Newtek 4,000,000 shares of a newly created series of Paltalk’s preferred stock, the Series A Non-Voting Common Equivalent Stock.  The newly created preferred stock will automatically convert into one share of Paltalk common stock upon the occurrence of certain qualifying dispositions by Newtek.

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