Paltalk Inc. Announces Closing of $11.64 Million Public Offering and Full Exercise of Overallotment Option

Jericho, NY – (NewMediaWire) – October 19, 2021 – Paltalk,

Inc. (Nasdaq: PALT) (“Paltalk,” the “Company,” “we,” “our” or “us”), a leading

communications software innovator that powers multimedia social applications,

today announced the closing of its previously announced underwritten

public offering of 1,350,000 shares of its common stock at a public offering

price of $7.50 per share. In addition, Paltalk granted to Maxim Group LLC a

45-day option to purchase up to an additional 202,500 shares of common stock,

at the public offering price less underwriting discounts, of which Maxim Group

LLC has fully exercised its option to purchase such 202,500 shares of common

stock. Gross proceeds before deducting underwriting discounts, commissions and

other offering expenses are approximately $11.64 million, inclusive of the


Maxim Group LLC acted as sole

book-running manager for the offering.  

The public offering was made

pursuant to an effective shelf registration statement on Form S-3 (File No.

333-260063), previously filed with the U.S. Securities and Exchange Commission

(SEC) on October 5, 2021 and declared effective on October 14, 2021. The

securities were offered by means of a prospectus supplement and accompanying

prospectus, forming part of the registration statement. The prospectus

supplement and accompanying prospectus relating to this offering have been

filed with the SEC. Electronic copies of the prospectus supplement and the

accompanying prospectus relating to this offering may be obtained from Maxim

Group LLC at 300 Park Avenue, 16th Floor, New York, NY 10022, Attention:

Syndicate Department, or by telephone at (212) 895-3745 or by email at Electronic copies of the prospectus supplement and

accompanying prospectus are also available on the website of the SEC at

This press release shall not

constitute an offer to sell or the solicitation of an offer to buy these

securities, nor shall there be any sale of these securities in any state or

other jurisdiction in which such offer, solicitation or sale would be unlawful

prior to the registration or qualification under the securities laws of any

such state or other jurisdiction.

About Paltalk, Inc. (Nasdaq:


Paltalk, Inc. 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 additional information,

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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 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, 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 to enhance our applications, and our

ability to timely complete development of applications using new technologies;

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

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.

Investor Contacts:

Brian Loper




Investor Contact

ClearThink Capital


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