Inuvo, Inc. Prices $10 Million Common Stock Offering

LITTLE ROCK, Ark., July 23, 2020 (GLOBE NEWSWIRE) -- INUVO, INC. (NYSE AMERICAN: INUV) (“Inuvo” or the “Company”), a leading provider of marketing technology, powered by IntentKey artificial intelligence that serves brands and agencies, today announced the pricing of an underwritten public offering of 20,000,000 shares of its common stock at a price to the public of $0.50 per share. The gross proceeds to Inuvo, Inc. from this offering are expected to be approximately $10,000,000, before deducting underwriting discounts and commissions and other estimated offering expenses. Inuvo has granted the underwriters a 45-day option to purchase up to an additional 1,500,000 shares of common stock to cover over-allotments, if any. The offering is expected to close on or about July 27, 2020, subject to customary closing conditions.

A.G.P./Alliance Group Partners is acting as sole book-running manager for the offering.

This offering is being made pursuant to an effective shelf registration statement on Form S-3 (No. 333-239147) previously filed with the U.S. Securities and Exchange Commission (the “SEC”) that was declared effective by the SEC on June 25, 2020. A preliminary prospectus supplement and accompanying prospectus describing the terms of the proposed offering was filed with the SEC.  Electronic copies of the preliminary prospectus supplement may be obtained, when available, from A.G.P./Alliance Global Partners, 590 Madison Avenue, 28th Floor, New York, NY 10022 or via telephone at 212-624-2006 or email: [e-mail]. Before investing in this offering, interested parties should read in their entirety the prospectus supplement and the accompanying prospectus and the other documents that Inuvo has filed with the SEC that are incorporated by reference in such prospectus supplement and the accompanying prospectus, which provide more information about Inuvo, Inc. and such offering. The final terms of the proposed offering will be disclosed in a final prospectus supplement to be filed with the SEC.  The preliminary prospectus supplement and accompanying prospectus is also available, and the final prospectus supplement and accompanying prospectus will be available, on the SEC’s website at http://www.sec.gov.