ConversionPoint Technologies: ConversionPoint Technologies Inc. and Inuvo, Inc. - Acquisition Update

LITTLE ROCK, Ark. and NEWPORT BEACH, Calif., March 18, 2019 (GLOBE NEWSWIRE) -- Inuvo, Inc. (NYSE:INUV), a leading provider of marketing technology, powered by artificial intelligence that serves brands and agencies, and ConversionPoint Technologies Inc., a privately held eCommerce technology company, today announced an update on various matters relating to the pending acquisition of Inuvo, Inc. (the "Transaction"). As previously disclosed, the Transaction is structured to be effected through a newly created holding company, ConversionPoint Holdings, Inc., whereby Inuvo and ConversionPoint Technologies will become wholly-owned subsidiaries of ConversionPoint Holdings. The closing of the Transaction is subject to certain customary and other closing conditions, including (i) the declaration of effectiveness of a registration statement on Form S-4 by ConversionPoint Holdings, (ii) a requirement that ConversionPoint Holdings raise a minimum of $36 million of gross proceeds from the issuance of equity and/or debt, a portion of which would be used to fund the cash portion of the Transaction, and (iii) the approval of the stockholders of ConversionPoint Technologies and Inuvo.On December 17, 2018, ConversionPoint Holdings filed a registration statement on Form S-4 with the Securities and Exchange Commission (the "SEC") in connection with the Transaction. On March 15, 2019, ConversionPoint Holdings filed an amendment to the registration statement on Form S-4 to address SEC comments and to include audited financial statements for each of Inuvo and ConversionPoint Technologies for the year ended December 31, 2018. Following the declaration of effectiveness of the registration statement on Form S-4, ConversionPoint Technologies and Inuvo will each mail the joint proxy statement/prospectus included in the registration statement on Form S-4 to their stockholders for consideration and approval at their respective stockholder meetings.The amended registration statement on Form S-4 containing the joint preliminary proxy statement/prospectus is available through the SEC's website by searching the filings of "ConversionPoint Holdings, Inc." at www.sec.gov or navigating to https://www.sec.gov/Archives/edgar/data/1761369/000161577419004122/s116694_s4a.htm.Although the companies have not yet formally determined the dates of their stockholder meetings, the companies currently expect to hold their meetings, and, upon the satisfaction or waiver of the closing conditions, close the Transaction, in the second quarter of 2019.About InuvoInuvo®, Inc. (NYSE: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 ...Full story available on Benzinga.com