Inuvo, Inc. Prices Underwritten Public Offering of Common Stock
LITTLE ROCK, Ark., May 11, 2018 (GLOBE NEWSWIRE) — Inuvo, Inc. (NYSE American:INUV), today announced the pricing of an underwritten public offering of 2,860,000 shares of its common stock at a price of $0.70 per share. The company has also granted to the underwriters a 30-day option to acquire an additional 429,000 shares to cover overallotments in connection with the offering. After the underwriting discount and estimated offering expenses payable by the company, the company expects to receive net proceeds of approximately $1.8 million, assuming no exercise of the overallotment option. The offering is expected to close on May 15, 2018, subject to customary closing conditions.