Inuvo (INUV) to Offer Common Stock
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INUVO, INC. (NYSE AMERICAN: INUV) announced that it intends to offer shares of its common stock for sale in an underwritten public offering. As part of this offering, Inuvo intends to grant the underwriters a 45-day option to purchase up to an additional fifteen percent (15%) of the shares of common stock offered in the public offering. The offering is subject to market conditions, and there can be no assurance as to whether or when the offering may be completed, or as to the actual size or terms of the offering. All of the shares in the proposed offering are to be sold by Inuvo.
A.G.P./Alliance Global Partners is acting as sole book-running manager for the offering.
Inuvo intends to use the net proceeds from this offering for working capital and to fund other general corporate purposes.
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