Attached files
file | filename |
---|---|
EX-99.1 - PRESS RELEASE - Inuvo, Inc. | inuv_ex991.htm |
EX-10.1 - FORM OF UNDERWRITING AGREEMENT - Inuvo, Inc. | inuv_ex101.htm |
EX-5.1 - OPINION ON LEGALITY - Inuvo, Inc. | inuv_ex51.htm |
8-K - CURRENT REPORT - Inuvo, Inc. | inuv_8k.htm |
Exhibit 99.2
INUVO, INC. PRICES $10 MILLION COMMON STOCK OFFERING
LITTLE
ROCK, AR JULY 23, 2020 – INUVO, INC. (NYSE AMERICAN: INUV)
(“Inuvo” or the “Company”), a leading
provider of marketing technology, powered by IntentKey™
artificial intelligence that serves brands and agencies, today
announced the pricing of an underwritten public offering of
20,000,000 shares of its common stock at a price to the public of
$0.50 per share. The gross proceeds to Inuvo, Inc. from this
offering are expected to be approximately $10,000,000, before
deducting underwriting discounts and commissions and other
estimated offering expenses. Inuvo has granted the underwriters a
45-day option to purchase up to an additional 1,500,000 shares of
common stock to cover over-allotments, if any. The offering is
expected to close on or about July 27, 2020, subject to customary
closing conditions.
A.G.P./Alliance
Group Partners is acting as sole book-running manager for the
offering.
This
offering is being made pursuant to an effective shelf registration
statement on Form S-3 (No. 333-239147) previously filed with the
U.S. Securities and Exchange Commission (the “SEC”)
that was declared effective by the SEC on June 25, 2020. A
preliminary prospectus supplement and accompanying prospectus
describing the terms of the proposed offering was filed with the
SEC. Electronic copies of the preliminary prospectus supplement may
be obtained, when available, from A.G.P./Alliance Global Partners,
590 Madison Avenue, 28th Floor, New York, NY 10022 or via telephone
at 212-624-2006 or email: prospectus@allianceg.com. Before
investing in this offering, interested parties should read in their
entirety the prospectus supplement and the accompanying prospectus
and the other documents that Inuvo has filed with the SEC that are
incorporated by reference in such prospectus supplement and the
accompanying prospectus, which provide more information about
Inuvo, Inc. and such offering. The final terms of the proposed
offering will be disclosed in a final prospectus supplement to be
filed with the SEC. The preliminary prospectus supplement and
accompanying prospectus is also available, and the final prospectus
supplement and accompanying prospectus will be available, on the
SEC’s website at http://www.sec.gov.
This
press release shall not constitute an offer to sell or the
solicitation of an offer to buy nor shall there be any sale of
these securities in any state or jurisdiction in which such offer,
solicitation or sale would be unlawful prior to registration or
qualification under the securities laws of any such state or
jurisdiction.
About Inuvo
Inuvo®,
Inc. (NYSE American: INUV) is a market leader in artificial
intelligence, aligning and delivering consumer-oriented product
& brand messaging strategies online based on powerful,
anonymous and proprietary consumer intent data for agencies,
advertisers and partners. To learn more, visit
www.inuvo.com.
About the IntentKey™
Inuvo®’s
IntentKey™ is a patented, machine-learning technology
designed to mirror the manner in which the human brain instantly
associates ideas, emotions, places, people, and objects. It creates
an accurate, high-definition picture of consumer intent and
sentiment related to a particular topic or item. Inuvo harnesses
the power of the IntentKey™ to discover and reach high
volumes of incremental in-market and relevant audiences that are
hidden from typical marketing approaches. The IntentKey™
enables pinpoint media execution reaching consumers throughout the
purchasing funnel all the way to conversion.
1
Forward-Looking Statements
This
press release includes certain “forward-looking
statements” within the meaning of Section 27A of the
Securities Act of 1933, as amended, and Section 21E of the
Securities Exchange Act of 1934, as amended, which are intended to
qualify for the “safe harbor” from liability
established by the Private Securities Litigation Reform Act of
1995. All statements other than statements of historical fact are
forward-looking statements. Forward-looking statements include,
without limitation, statements about the expected closing of the
offering; anticipated use of the net proceeds of the offering; and
other risks and uncertainties detailed in Inuvo, Inc.’s
Annual Report on Form 10-K for the fiscal year ended December 31,
2019, as amended, subsequent Quarterly Report on Form 10-Q for the
period ended March 31, 2020 and our other filings with the SEC.
Additionally, forward looking statements are subject to certain
risks, trends, and uncertainties including the continued impact of
Covid-19 on Inuvo’s business and operations. Inuvo cannot
provide assurances that the assumptions upon which these
forward-looking statements are based will prove to have been
correct. Should one of these risks materialize, or should
underlying assumptions prove incorrect, actual results may vary
materially from those expressed or implied in any forward-looking
statements, and investors are cautioned not to place undue reliance
on these forward-looking statements, which are current only as of
this date. Inuvo does not intend to update or revise any
forward-looking statements made herein or any other forward looking
statements as a result of new information, future events or
otherwise. Inuvo further expressly disclaims any written or oral
statements made by a third party regarding the subject matter of
this press release.
Inuvo
Company Contact:
Wally
Ruiz
Chief
Financial Officer
Tel
(501) 205-8397
wallace.ruiz@inuvo.com
Investor
Relations:
KCSA
Strategic Communications
Valter
Pinto, Managing Director
Tel
(212) 896-1254
Valter@KCSA.com
2