Inuvo announces $4M registered direct offering of 16M shares at $0.25/share

Inuvo, Inc.

Gross proceeds of $4M; net proceeds for general working capital.
Offering of 16M shares of common stock at $0.25 per share.
Closing expected on or about May 30, 2023.
90-day lock-up on further share issuance after closing.
A.G.P./Alliance Global Partners acting as sole placement agent.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

Inuvo, Inc. entered into Purchase Agreement with certain institutional and accredited investors valued at $4.0 million (effective 2023-05-25).

Action: entry
Agreement: equity purchase
Counterparty: certain institutional and accredited investors
Value: $4.0 million
Effective: 2023-05-25

Exact text from the filing

On May 25, 2023, Inuvo, Inc. (the “ Company ”), entered into a Securities Purchase Agreement (the “ Purchase Agreement ”) with certain institutional and accredited investors (the “ Purchasers ”) for the sale by the Company in a registered direct offering (the “ Offering ”) of 16,000,000 shares of the Company’s common stock, par value $0.001 per share (the “ Common Stock ”) at a purchase price per share of Common Stock of $0.25 per share.

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Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

Inuvo, Inc. entered into Placement Agency Agreement with A.G.P./Alliance Global Partners valued at 7% of the gross proceeds (effective 2023-05-25).

Action: entry
Agreement: underwriting
Counterparty: A.G.P./Alliance Global Partners
Value: 7% of the gross proceeds
Effective: 2023-05-25

Exact text from the filing

The Company entered into a Placement Agency Agreement, dated as of May 25, 2023, by and between the Company and the Placement Agent (the “ Placement Agency Agreement ”).

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38 material agreements filed in the last 30 days. Browse all material agreements →

Inuvo, Inc. filing history →

Source: SEC EDGAR

accession 0001654954-23-007202

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