Attached files
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EX-10.1 - MATERIAL CONTRACTS - Inuvo, Inc. | inuv_ex101.htm |
EX-1.1 - PLACEMENT AGENCY AGREEMENT - Inuvo, Inc. | inuv_ex11.htm |
8-K - CURRENT REPORT - Inuvo, Inc. | inuv-20211231.htm |
Exhibit 99.1
Inuvo Prices $6.25 Million Common Stock Offering
LITTLE ROCK, AR., January 20, 2021 (GLOBE NEWSWIRE) --
Inuvo,
Inc. (NYSE
American: 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.
A.G.P./Alliance Global Partners is acting as sole placement agent
for the offering.
This offering was made pursuant to an effective shelf registration
statement on Form S-3 (File No. 333-239147) previously filed
with and declared effective by the U.S. Securities and Exchange
Commission (the “SEC”). 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. A prospectus
supplement relating to the shares of common stock will be filed by
Inuvo with the SEC. When available, copies of the prospectus
supplement, together with the accompanying prospectus, can be
obtained at the SEC’s website at www.sec.gov or from
A.G.P./Alliance Global Partners, 590 Madison Avenue,
28th Floor, New York, New York 10022 or by email at
prospectus@allianceg.com.
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.
Safe Harbor / 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 gross proceeds from 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,
Inuvo’s subsequent Quarterly Reports on Form 10-Q for the
periods ended March 31, 2020, June 30, 2020, and September 30, 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