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Iteris Announces Closing of Follow-on Public Offering and Full Exercise of Underwriters’ Option to Purchase Additional Shares

Mittwoch, 19.06.19 14:30
Iteris Announces Closing of Follow-on Public Offering and Full Exercise of Underwriters’ Option to Purchase Additional Shares
Bildquelle: iStock by Getty Images
SANTA ANA, Calif. –

Iteris, Inc. (NASDAQ: ITI), the global leader in applied informatics for transportation and agriculture, today announced the closing of an underwritten public offering of $28.75 million of shares of its common stock at a public offering price of $4.65 per share, which included the exercise in full by the underwriters of their option to purchase additional shares of common stock on the same terms and conditions. Iteris received all of the proceeds from the offering less underwriting discounts and commissions, and other offering expenses payable by the Company.

Iteris intends to use the net proceeds from the offering to fund the cash purchase price of a planned acquisition and for general corporate purposes, including possible additional future acquisitions.

B. Riley FBR, Inc. acted as sole bookrunner for the offering. Northland Securities, Inc. acted as lead manager for the offering. Co-managers were Craig Hallum Capital Group and Dougherty & Company LLC.

The securities described above were offered by Iteris 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. A final prospectus supplement describing the terms of the offering and the accompanying base prospectus were filed with the SEC and are available on the SEC’s website located at Alternatively, copies of the final prospectus supplement and accompanying prospectus relating to the offering may be obtained from B. Riley FBR, Inc., Attention: Prospectus Department, 1300 17th St. North, Ste. 1300, Arlington, VA 22209, or by email at, or by telephone at (800) 846-5050.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of, these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

About Iteris, Inc.

Iteris is the global leader in applied informatics for transportation and agriculture, turning big data into big breakthrough solutions. We collect, aggregate and analyze data on traffic, roads, weather, water, soil and crops to generate precise informatics that lead to safer transportation and smarter farming. Municipalities, government agencies, crop science companies, farmers and agronomists around the world use our solutions to make roads safer and travel more efficient, as well as farmlands more sustainable, healthy and productive. Visit for more information and join the conversation on Twitter, LinkedIn and Facebook.

Iteris Forward-Looking Statements

This release may contain forward-looking statements, which speak only as of the date hereof and are based upon our current expectations and the information available to us at this time. Words such as "believes," "anticipates," "expects," "intends," "plans," "seeks," "estimates," "may," “should,” “will,” "can," and variations of these words or similar expressions are intended to identify forward-looking statements. These statements include, but are not limited to, statements about the amount and anticipated use of proceeds from the offering and the planned acquisition and possible future acquisitions by Iteris. Such statements are not guarantees of future performance and are subject to certain risks, uncertainties, and assumptions that are difficult to predict, and actual results could differ materially and adversely from those expressed in any forward-looking statements as a result of various factors.

Important factors that may cause such a difference include, but are not limited to, uncertainties related to market conditions and the completion of the public offering; Iteris’ future business development, financial condition and results of operations; competition in the transportation and agriculture markets; and Iteris’ ability to manage its costs and expenses. Further information on Iteris, Inc., including additional risk factors that may affect our forward looking statements, is contained in our Annual Report on Form 10-K for the fiscal year ended March 31, 2019, the prospectus supplement related to the public offering, our Current Reports on Form 8-K, and our other SEC filings that are available through the SEC’s website (

Quelle: Business Wire

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