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Mitek Systems Inc Announces Full Exercise of Overallotment Option by Underwriters


Wednesday, 3 Jul 2013 02:20pm EDT 

Mitek Systems Inc announced that the underwriter of its previously announced public offering of common stock has exercised in full its overallotment option to purchase an additional 428,571 shares of common stock at the public offering price of $5.25 per share. The closing of the overallotment option exercise occurred July 3, 2013, and resulted in gross proceeds to Mitek of approximately $2,250,000, before deducting underwriting discounts and other estimated offering expenses. Exercise of the overallotment option increases the gross proceeds to Mitek from approximately $15,000,000 to approximately $17,250,000, before deducting underwriting discounts and other estimated offering expenses. Mitek expects to use the net proceeds from the offering for general corporate purposes, including working capital requirements. In connection with the offering, William Blair & Company, L.L.C. served as the sole underwriter. 

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