Inuvo (INUV) Stock: Rocketing On Acquisition News


Inuvo Inc INUV Stock NewsFollowing news of an acquisition, Inuvo Inc (NYSEAMERICAN: INUV) rocketing in the market this morning. As you could imagine, the acquisition came at an incredibly strong premium, exciting investors who are sending the stock screaming for the top. Today, we’ll talk about:

  • The acquisition;
  • what we’re seeing from INUV stock as a result; and
  • what we’ll be watching for ahead.

INUV Announces Acquisition News

As mentioned above, Inuvo is flying in the market this morning after announcing acquisition news. In a press release issued early this morning, the company said that it has entered into a definitive agreement to be acquired. The acquisition agreement was signed with ConversionPoint Technologies. ConversionPoint is a privately held eCommerce technology company.

In the release, INUV said that the acquisition will take place with a price of $2.22 per share. The transaction will happen through a mix of cash and stock. Shareholders will receive $0.45 in cash per share and stock that is valued at approximately $1.77 per share. This brings the total value of the acquisition to $75.5 million.

In the release, INUV said that ConversionPoing plans on filing an S-4 with the SEC to register the shares of common stock to be issued in the acquisition and intends on filing listing applications to be featured on both the NASDAQ and the TSE.

While the agreement is definitive, it’s important to keep in mind that the transaction is still subject to customary closing conditions as well as regulatory approval.

What We’re Seeing From The Stock 

As investors, one of the first things that we learn is that it’s important to keep a close eye on the news, and very few pieces of news have the potential to move the market quite like acquisition news. When it comes to Inuvo, the news proved to be overwhelmingly positive. After all, not only is the company going to be acquired, it will happen at a strong premium. So, it comes as no surprise that excited investors are pushing the stock on a run for the top in the market todya. As is just about always the case, our partners at Trade Ideas were the first to alert us to the gains. Currently (10:36), INUV is trading at $0.86 per share after a gain of $0.45 per share or 113.00% so far today.

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What We’ll Be Watching For Ahead

Moving forward, the CNA Finance team will continue to keep a close eye on INUV. In particular, we’re interested in following the story surrounding the acquisition to see if the transaction closes without a hitch. Nonetheless, we’ll continue to keep a close eye on the news and bring it to you as it breaks!

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