Marketing technology company Inuvo (NYSE: INUV) has come into sharp focus among investors in recent times and over the course of the past month alone, the stock has rallied by as high as 60%. One of the major triggers for the rally in the Inuvo stock came about last week when it emerged that the company signed a securities purchase agreement with some institutional investors.
As per the terms of the agreement, the company is going to offer as many as 13,333,334 shares to the investors for $0.60 a share as part of a registered direct offering.
The company expects to raise as large as $8 million in gross proceeds from the transaction and naturally there is excitement among investors with regards to this capital raise. The company aims to have its registered direct offering on January 21 provided customary conditions for completing the transaction are fulfilled. Investors could do well to keep an eye on the Inuvo stock over the coming days.
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Living in the era of dynamic tech change Asan decided to stay tuned in changes that make any person find comfort and adapt to new devices. Furthermore, gaming became his passion for spending leisure time with his close ones. Although, he has a degree in Business Administration (majoring Finance) writing for technology and as well as finance has been one of the precious aspects of his life