News

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

JERICHO, NY – (NewMediaWire) – August 2, 2021 – Paltalk, Inc., (“Paltalk,”
the
Company,”
“we,” “our” or “us”)
(OTCQB: PALT), a leading communications software innovator that powers
multimedia social applications, today 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. 

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.

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.

About
Paltalk, Inc.

Paltalk is a communications software innovator that
powers multimedia social applications. Our product portfolio includes Paltalk
and Camfrog, which together host one of the world’s largest collections of
video-based communities. Our other products include Tinychat and Vumber. The
Company has an over 20-year history of technology innovation and holds 18
patents. For more information, please visit: http://www.paltalk.com.

Forward Looking Statements

This
press release contains “forward-looking statements.” Such statements
may be preceded by the words “intends,” “may,”
“will,” “plans,” “expects,”
“anticipates,” “projects,” “predicts,”
“estimates,” “aims,” “believes,”
“hopes,” “potential,” or similar words.
Forward-looking statements in this
press release include statements regarding the anticipated closing of the
offering and the Company’s intended use of the net proceeds from the offering.
Forward-looking statements are not guarantees of
future performance, are based on certain assumptions and are subject to various
known and unknown risks and uncertainties, many of which are beyond the
Company’s control, and cannot be predicted or quantified and consequently,
actual results may differ materially from those expressed or implied by such
forward-looking statements. Such risks and uncertainties include, without
limitation,
market and
other conditions and the satisfaction of customary closing conditions related
to the offering; the Company’s ability to retain the listing of its common
stock on The Nasdaq Capital Market;
the
impact of the
COVID-19
pandemic
on our results of operations
and our business; our ability to effectively market and generate revenue from
our applications; our ability to release new applications or improve upon or
add features to existing applications on schedule or at all; risks and
uncertainties related to our increasing focus on the use of new and novel
technologies, such as Props tokens, to enhance our applications, and our
ability to timely complete development of applications using new technologies;
our ability to effectively integrate Props tokens into our existing
applications; our ability to effectively secure new software development and
licensing customers; our ability to protect our intellectual property rights;
the use of the internet and privacy and protection of user
data; risks related to our holdings of digital tokens, including risks related
to the volatility of the trading price of digital tokens and our ability to
convert digital tokens into fiat currency; and our ability to manage our
partnerships and strategic alliances. More detailed information about the
Company and the risk factors that may affect the realization of forward-looking
statements is set forth in the Company’s filings with the Securities and
Exchange Commission (“SEC”), including the Company’s most recent
Annual Report on Form 10-K and Quarterly Reports on Form 10-Q. Investors and security
holders are urged to read these documents free of charge on the SEC’s website
at www.sec.gov.

All
forward-looking statements speak only as of the date on which they are made.
The Company undertakes no obligation to update any forward-looking statement or
statements to reflect events or circumstances after the date on which such
statement was made, except to the extent required by applicable securities
laws.

CONTACTS:

IR@paltalk.com

Stephanie Prince

PCG Advisory

sprince@pcgadvisory.com

646-863-6341

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