ITUS Corporation Obtained $3.6 Million From Public Stock Offering
ITUS Corporation closed its public offering of common stock for gross proceeds of approximately $3.6 million on May 16, 2017. The offering was a shelf takedown off of the Company's registration statement on Form S-3 (File No. 333-206782) and was conducted pursuant to a placement agency agreement between the Company and Dawson James Securities, Inc., the sole placement agent on a best-efforts basis with respect to the offering, that was entered into on May 11, 2017. The Company sold 3,425,376 shares of common stock in the offering at a purchase price of $1.05 per share. The Agreement contains customary representations, warranties and agreements of us and the Placement Agent. The Company also agreed in the Agreement to indemnify the Placement Agent against certain liabilities.