Benzinga | Jan 20, 2021 08:36AM EST

Inuvo Prices 5,681,817 Share Common Stock Offering At $1.10/Share

LITTLE ROCK, Ark., Jan. 20, 2021 (GLOBE NEWSWIRE) -- Inuvo, Inc. (NYSE:INUV), a leading provider of marketing technology, powered by artificial intelligence that serves brands and agencies, today announced it has entered into a securities purchase agreement with institutional investors for the purchase and sale of 5,681,817 shares of its common stock, par value $0.001 per share, at a price of $1.10 per share, pursuant to a registered direct offering. The gross proceeds of the offering are expected to be $6.25 million before deducting fees and other estimated offering expenses. The closing of the registered direct offering is expected to take place on or about January 22, 2021, subject to the satisfaction of customary closing conditions.