ITUS Corporation Announces Proposed Public Offering of Common Stock
LOS ANGELES, CA -- (Marketwired) -- 05/10/17 -- ITUS Corporation (ITUS) (NASDAQ: ITUS), a company using the power of the immune system to diagnose cancer, today announced a proposed registered public offering of its common stock. The 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.
Dawson James Securities, Inc., is acting as exclusive placement agent for the offering.
ITUS intends to use the net proceeds from the offering, if completed, for working capital and general corporate purposes, including the potential payment of corporate debt.
The shares are being offered pursuant to an effective shelf registration statement on Form S-3, as amended (File No. 333-206782), that was previously filed with the Securities and Exchange Commission (SEC) and declared effective on September 18, 2015. The securities may be offered only by means of a prospectus. The prospectus has been filed with the SEC and is available on the SEC's website located at http://www.sec.gov. The preliminary prospectus supplement related to the offering will be available on the SEC's website located at http://www.sec.gov and may also be obtained from Dawson James Securities, Inc., Attention: Prospectus Department, 1 North Federal Highway, 5th Floor, Boca Raton, FL 33432, email@example.com, or toll free at 866.928.0928.
This press release shall not constitute an offer to sell, or the solicitation of an offer to buy, nor may there be any sale of these securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
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.
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 our Annual Report on Form 10-K for the fiscal year ended October 31, 2016 as well as in our Quarterly Reports on Form 10-Q and Current Reports on Form 8-K. We undertake 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.
ITUS Corporation: FOCUSED ON INNOVATION™
Source: ITUS Corporation
Released May 10, 2017
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