Blueprint
Exhibit 99.1
Inuvo, Inc. Announces Exercise of Over-Allotment
Option
LITTLE ROCK, AR., July 17, 2019 (GLOBE NEWSWIRE) --
Inuvo,
Inc. (NYSE
American: INUV), a leading provider of marketing technology,
powered by artificial intelligence that serves brands and agencies,
today announced that in connection with its previously announced
underwritten public offering of common stock, Roth Capital
Partners, who acted as sole manager for the offering, has exercised
its option to purchase an additional 2,062,500 shares pursuant to
its over-allotment option at a public offering price of $0.30 per
share. After giving effect to the full exercise of the
over-allotment option, the total number of shares sold by Inuvo in
the public offering increased to 15,812,500 shares and total gross
proceeds increased to approximately $4.7 million. The Company
intends to use the over-allotment proceeds for general corporate
purposes, including working capital and investment in its
IntentKeyTM technology.
Inuvo’s sale of common stock to Roth Capital Partners under
the over-allotment option has closed today.
Inuvo intends to use the net proceeds from the offering for general
corporate purposes, including working capital and investment in its
IntentKeyTM
technology.
A shelf registration statement relating to the shares of common
stock issued in the offering was filed with the Securities and
Exchange Commission (the “SEC”) and has been declared
effective. Copies of the prospectus supplement and accompanying
prospectus have been filed with the SEC and may be obtained from
Roth Capital Partners, LLC, Attention: Equity Capital Markets, 888
San Clemente Drive, Newport Beach, California 92660, by telephone
at (800) 678-9147 or e-mail at rothecm@roth.com, or by accessing
the SEC’s website at www.sec.gov. This press release shall
not constitute an offer to sell or the solicitation of an offer to
buy any of the securities described herein, nor shall there be any
sale of these securities in any state or jurisdiction in which such
offer, solicitation or sale would be unlawful prior to registration
or qualification under the securities laws of any such state or
jurisdiction.
About Inuvo
Inuvo®, Inc. (NYSE American: INUV) is a market leader in
artificial intelligence, aligning and delivering consumer-oriented
product & brand messaging strategies online based on powerful,
anonymous and proprietary consumer intent data for agencies,
advertisers and partners. To learn more, visit www.inuvo.com.
Safe Harbor / Forward-Looking Statements
This press release contains “forward-looking
statements” within the meaning of the Private Securities
Litigation Reform Act of 1995 regarding intended use of proceeds
from the offering. These forward-looking statements are subject to
risks and uncertainties that may cause actual results to differ
materially, including market conditions, risks associated with the
cash requirements of our business and other risks detailed from
time to time in our filings with the Securities and Exchange
Commission, and represent our views only as of the date they are
made and should not be relied upon as representing our views as of
any subsequent date. We do not assume any obligation to update any
forward-looking statements.
Inuvo Company Contact:
Wally Ruiz
Chief Financial Officer
Tel (501) 205-8397
wallace.ruiz@inuvo.com
Investor Relations:
KCSA Strategic Communications
Valter Pinto, Managing Director
Tel (212) 896-1254
Valter@KCSA.com