Inuvo shares are trading lower after the company announced pricing of a $4 million registered direct offering of 16 million shares of common stock at a price of $0.25 per share.
Portfolio Pulse from Benzinga Newsdesk
Inuvo announced a $4 million registered direct offering of 16 million shares of common stock at a price of $0.25 per share, causing its shares to trade lower.
May 25, 2023 | 5:36 pm
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Inuvo's stock price is trading lower after announcing a $4 million direct offering of 16 million shares at $0.25 per share.
Inuvo's announcement of a $4 million registered direct offering of 16 million shares at a price of $0.25 per share has led to its shares trading lower. This is due to the dilution of existing shares, which can negatively impact the stock price in the short term.
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