ITUS Rights Offering Materials Available for Shareholders of Record
LOS ANGELES, CA -- (Marketwired) -- 03/13/17 -- ITUS Corporation ("ITUS") (NASDAQ: ITUS) is reminding the investor community that copies of the Prospectus Supplement and related materials for the ITUS rights offering have been filed and mailed and should be available to shareholders of record. ITUS right-holders that do not directly receive the rights offering materials, or are not contacted by their custodian of record within the next few days, should immediately contact MacKenzie Partners, the information agent for the rights offering, at (800) 322-2885 or (212) 929-5500 or by email at ITUS@mackenziepartners.com
The subscription period for the ITUS rights offering is set to expire on Friday, March 24 at 5:00 Eastern Standard Time. The company's prospectus may be found here: https://www.sec.gov/Archives/edgar/data/715446/000151316217000061/prospectus.htm
ITUS's board of directors approved the rights offering for ITUS shareholders of record of up to $12,000,000. The rights offering includes non-transferable rights to purchase one (1) share of ITUS common stock, for each share of ITUS common stock owned by shareholders on the record date of March 1, 2017. The rights offering includes an over subscription privilege, which entitles each rights holder that exercises its entire basic subscription privilege the right to purchase additional shares of ITUS common stock that remain unsubscribed at the expiration of the rights offering. Both the basic and over-subscription privileges are subject to proration.
Advisory Group Equity Services, Ltd, which is doing business as RHK Capital, will act as dealer manager for the rights offering. Advisory Group Equity Services invites any broker dealers interested in participating in the rights offering to contact the syndicate department at email@example.com.
The information herein is not complete and is subject to change. This press release is not an offer to sell these securities and is not soliciting an offer to buy these securities. The offering can be made only by a final prospectus, including a prospectus supplement. Investors should consider investment objectives, risks, charges and expenses carefully before investing. The base prospectus included in the registration statement contains additional information about ITUS, and the prospectus supplement will contain additional information about the rights offering, and rights holders should read both carefully before exercising their rights and investing.
ITUS funds, develops, acquires, and licenses emerging technologies in areas such as biotechnology. The Company is developing a platform called Cchek™, a series of non-invasive, blood tests for the early detection of solid tumor based cancers, which is based on the body's immunological response to the presence of a malignancy. Additional information is available at www.ITUScorp.com.
Forward-Looking Statements: Statements that are not historical fact may be considered forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are not statements of historical facts, but rather reflect ITUS Corporation's current expectations concerning future events and results. We generally use the words "believes," "expects," "intends," "plans," "anticipates," "likely," "will" and similar expressions to identify forward-looking statements. Such forward-looking statements, including those concerning our expectations, involve risks, uncertainties and other factors, some of which are beyond our control, which may cause our actual results, performance or achievements, or industry results, to be materially different from any future results, performance, or achievements expressed or implied by such forward-looking statements. These risks, uncertainties and factors include, but are not limited to, those factors set forth in "Item 1A - Risk Factors" and other sections of ITUS's Annual Report on Form 10-K for the fiscal year ended October 31, 2016 as well as in ITUS's Quarterly Reports on Form 10-Q and Current Reports on Form 8-K. The company undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law. You are cautioned not to unduly rely on such forward-looking statements when evaluating the information presented in this press release.
Rights Offering Information:
For additional information on the rights offering please contact the offer information agent MacKenzie Partners, Inc. at (800) 322-2885 or (212) 929-5500 or by email at ITUS@mackenziepartners.com
For additional information on the company you may contact Dean Krouch at ITUS at (310) 484-5184 or by email at dkrouch@ITUScorp.com
ITUS Corporation: FOCUSED ON INNOVATION™
Contact:Dean KrouchITUS(310) 484-5184dkrouch@ITUScorp.com
Source: ITUS Corporation
Released March 13, 2017
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