Inuvo raises $12.97M via debt and equity; retires $2.8M convertible notes and credit facility

Inuvo, Inc.

Closed $10M note purchase: $4.142M A-1 Note (9% interest) and $6.2M B Note (5% interest); $3.8M received immediately, $6.2M in deposit account.
Registered direct offering of 2.97M shares/pre-funded warrants at $1.00/share for ~$2.97M gross; concurrent private placement of Class A/B warrants exercisable at $1.28.
Proceeds used to retire ~$2.8M in convertible promissory notes and terminate receivables-based credit facility; no outstanding convertible debt post-closing.
Extended Google Services Agreement through July 31, 2026 via amendment with Vertro subsidiary.
Ladenburg Thalmann acted as placement agent; fees include 6% cash commission and 5% warrant coverage.

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