Paltalk Inc.Announces Closing of $ 11.64 Million Public Offering and Full Exercise of Over-Allotment Option

JERICHO, NY, October 19, 2021 (GLOBE NEWSWIRE) – via NewMediaWire – Paltalk, Inc. (Nasdaq: PALT) (“Paltalk”, the “Company”, “we”, “us” or “us”), a leading innovator in communications software that powers applications Multimedia Social Media, today announced the closing of its previously announced subscribed public offering of 1,350,000 common shares at a public offering price of $ 7.50 per share. In addition, Paltalk has granted Maxim Group LLC a 45-day option to purchase up to 202,500 additional common shares, at the public offering price less subscription discounts, of which Maxim Group LLC has fully exercised its purchase option. of these 202,500 shares. ordinary shares. The gross proceeds before deducting subscription discounts, commissions and other offering costs are approximately $ 11.64 million, including the over-allotment.

Maxim Group LLC acted as the sole book manager for the offering.

The public offering was made pursuant to a valid registration statement on Form S-3 (File No. 333-260063), previously filed with the United States Securities and Exchange Commission (SEC) on October 5, 2021 and declared effective October 14, 2021. The securities were offered by way 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 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 syndicate@maximgrp.com. Electronic copies of the Prospectus Supplement and accompanying prospectus are also available on the SEC’s website at www.sec.gov.

This press release does not constitute an offer to sell or the solicitation of an offer to buy such securities, and there will be no sale of such securities in any State or other jurisdiction in which such an offer, solicitation or sale would be illegal prior to registration or qualification under the securities laws of any such state or other jurisdiction.

About Paltalk, Inc. (Nasdaq: PALT)

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 communities. Our other products include Tinychat and Vumber. The company has more than 20 years of technological innovation history and holds 18 patents.

For more information, please visit: https://www.paltalk.com.

To be added to our news distribution list, please visit: http://www.paltalk.com/investor-alerts/.

Forward-looking statements

This press release contains “forward-looking statements”. Such statements may be preceded by the words “intention”, “may”, “will”, “plans”, “expects”, “plans”, “projects”, “predicts”, “estimates”, “aims”. , “Estimates,” “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 independent the will of the Company, and cannot be predicted or quantified and, therefore, actual results may differ materially from those expressed or implied by such forward-looking statements. These risks and uncertainties include, without limitation, the the Company’s ability to maintain the listing of its common shares on the Nasdaq Capital Market; the impact of the COVID-19 pandemic on our operating results and business; our ability to effectively market and generate income from of our applications; our ability to release new applications or improve or add functionality to existing applications on time or not at all; the risks and uncertainties associated with our increasing focus on using new and innovative technologies to improve our applications, and our ability to timely complete application development using new technologies; our ability to effectively secure new software development and licensing customers; our ability to protect our intellectual property rights; Internet use and the confidentiality and protection of user data; risks relating to our holdings of digital tokens, including risks relating 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 strategic partnerships and alliances. More detailed information about the Company and the risk factors that may affect the realization of forward-looking statements are set out in the documents filed by the Company with the Securities and Exchange Commission (“SEC”), including the most recent annual report of the Company 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 assumes no obligation to update any forward-looking statement or statement to reflect events or circumstances occurring after the date on which such statement was made, except to the extent required by applicable securities laws.

Investor contacts:

IR@paltalk.com

Brian loper

Clear Thinking

bloper@clearthink.capital

347-413-4234

Contact Paltalk Investors

ClearThinking Capital

nyc@clearthink.capital

347-413-4234

About Barbara J. Ross

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