debt
confidence high
sentiment neutral
materiality 0.65
Inuvo issues $3.33M convertible notes at $3.10/share with 10% OID
Inuvo, Inc.
- Aggregate principal $3,333,333 with 10% original issue discount; net proceeds ~$3M.
- Notes convertible into common stock at $3.10 per share; subordinated to SLR Digital Finance.
- Registration rights agreement requires filing resale registration within 30 days of closing.
- Issuance limited to 19.99% of outstanding shares unless shareholder approval obtained; beneficial ownership capped at 4.99%.
- Curvature Securities LLC acted as placement agent with 6% cash fee plus $7,500 expenses.