Inuvo (INUV) Prices 12.22M Share Common Offering at $0.45/Sh

INUVO, INC. (NYSE: INUV) today announced it has entered into a securities purchase agreement with institutional investors for the purchase and sale of 12,222,222 shares of common stock, par value $0.001 per share, at an offering price of $0.45 per share, pursuant to a registered direct offering. The gross proceeds of the offering are expected to be $5.5 million before deducting fees and other estimated offering expenses. The closing of the registered direct offering is expected to take place on or about June 8, 2020, subject to the satisfaction of customary closing conditions.

A.G.P./Alliance Global Partners is acting as sole placement agent for the offering.

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