Key Developments: Inuvo Inc (INUV.A)
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Latest Key Developments (Source: Significant Developments)
Inuvo Inc Issues Q1 2013 Revenue Guidance Above Analysts' Estimates
Inuvo Inc announced that for the first quarter of 2013, it expects revenue to range between $16.2 and $16.5 million. According to I/B/E/S Estimates, analysts were expecting the Company to report revenue of 16.0 million for the first quarter of 2013. Full Article
Inuvo Inc Appoints Richard K. Howe As Chief Executive Officer
Inuvo Inc announced that its Board of Directors has named Richard K. Howe as Chief Executive Officer effective immediately. Mr. Howe will remain as the Company's Chairman of the Board. Mr. Howe succeeds Peter Corrao who is departing the Company to pursue other interests. Mr. Corrao has resigned as a director of Inuvo and has agreed to consult and advise the Company on business and strategic matters. Full Article
Inuvo Inc Issues Q2 2012 Revenue Guidance
Inuvo Inc announced that for second quarter of 2012, it expects revenue to be approximately $12.9 million. Full Article
Inuvo Inc And Vertro Inc Announces Update On Merger
Inuvo Inc and Vertro Inc announced that they have each established a record date for their respective special meetings of stockholders to, among other things, consider and vote upon the proposals contemplated by the previously announced merger agreement, dated as of October 16, 2011, between Inuvo and Vertro. Each company's stockholders of record at the close of business on, January 27, 2012 will receive notice of, and will be entitled to vote at, their respective special meeting. Under terms of the merger agreement, which was unanimously approved by the Board of Directors of each company, at closing of the transaction, Vertro will become a wholly-owned subsidiary of Inuvo in a tax-free exchange of shares at the exchange ratio of 1.546 shares of Inuvo common stock per each share of Vertro common stock. Full Article
Inuvo Inc Announces Plans To Acquire Vertro Inc
Inuvo Inc and Vertro Inc announced that the parties have entered into a definitive agreement pursuant to which Inuvo will acquire Vertro in an all stock transaction. Under terms of the agreement, which was unanimously approved by the Board of Directors of each company, at closing of the transaction Vertro will become a wholly-owned subsidiary of Inuvo in a tax-free exchange of shares at an exchange ratio of 1.546 shares of Inuvo common stock per each share of Vertro common stock. The merger is expected to close in the fourth quarter of 2011 or the first quarter of 2012, subject to satisfaction of the closing conditions. Full Article
Inuvo, Inc. Announces Closing Of $2.7 Million Financing
Inuvo, Inc. announced that it has completed the sale of $2.7 million of its common stock and warrants in a registered direct offering. Inuvo will issue 1,350,000 shares of its common stock and five year warrants to purchase an additional 675,000 shares. The common stock sold in the offering was priced at $2.00 per share which was equal to the closing price of the stock on June 20, 2011. The warrants are exercisable at $2.20 per share, and all securities sold in this offering are issued pursuant to a shelf registration statement. The proceeds will be used to fund increased sales and marketing efforts along with working capital requirements for the Company’s strategic plan, and to improve the Company’s stockholders’ equity position, an important action in Inuvo’s plan to maintain compliance with the continued listing standards of the NYSE Amex. Full Article
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