- Iteris (NASDAQ:ITI) has priced public offering of 5.38M common shares at $4.65/share, for gross proceeds of $25M.
- Underwriters over-allotment is an additional 0.806M common stock.
- Closing date is June 18.
- Net proceeds of $23.1M will be used to fund the cash purchase price of a planned acquisition and for general corporate purposes, including possible additional future acquisitions.
- ITI -4.1% premarket to $4.88
- Source: Press Release