Fidest – Agenzia giornalistica/press agency

Quotidiano di informazione – Anno 31 n° 344

Iteris Announces Launch of Public Offering of Common Stock

Posted by fidest press agency su sabato, 15 giugno 2019

Iteris, Inc. (NASDAQ: ITI), the global leader in applied informatics for transportation and agriculture, today announced the launch of an underwritten registered public offering of shares of its common stock.
Iteris expects to grant the underwriters a 30-day option to purchase up to an additional 15% of the shares of its common stock sold in the proposed offering. All shares of common stock to be sold in the proposed offering will be offered by Iteris. The proposed offering is subject to market and other conditions, and there can be no assurance as to whether or when the offering may be completed, or as to the actual size or terms of the offering. Iteris intends to use the net proceeds from the offering to fund the cash purchase price for a planned acquisition and for general corporate purposes, including possible additional future acquisitions.B. Riley FBR, Inc. is acting as sole bookrunner for the offering. Northland Securities, Inc. is acting as lead manager for the offering. Co-managers will be Craig Hallum Capital Group and Dougherty & Company LLC.The proposed offering is being made pursuant to the Company’s shelf registration statement on Form S-3 (File No. 333-220305) that was declared effective by the Securities and Exchange Commission (“SEC”) on September 21, 2017. The shares may be offered only by means of a prospectus. A preliminary prospectus supplement describing the terms of the proposed offering and the accompanying base prospectus will be filed with the SEC and will be available on the SEC’s website located at http://www.sec.gov. Alternatively, copies of the preliminary prospectus supplement and accompanying prospectus relating to the proposed offering, when available, may be obtained from B. Riley FBR, Inc.

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