Mitek Systems Inc. files registration statement for offering of common stock.SAN DIEGO--(BUSINESS WIRE)--July 9, 1996--Mitek Systems Inc. (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on :MITK) announced that it has filed a registration statement with the Securities and Exchange Commission covering a proposed secondary public offering of 4,075,000 shares of its common stock, of which 2.5 million shares will be sold by the company and up to 1,575,000 shares will sold on behalf of certain selling stockholders. The managing underwriter Managing underwriter The leading firm in an underwriting group, which originates the deal and acts as an agent for the group. managing underwriter See lead underwriter. of the offering is Cruttenden Roth Inc. Mitek Systems develops and markets automatic data recognition products which enable the automation of costly and labor intensive Labor Intensive A process or industry that requires large amounts of human effort to produce goods. Notes: A good example is the hospitality industry (hotels, restaurants, etc), they are considered to be very people-oriented. See also: Capital Intensive, Trading Dollars business functions such as check and remittance processing, forms processing and order entry. The company's products incorporate proprietary object-oriented neural network software Neural network software is used to simulate, research, develop and apply artificial neural networks, biological neural networks and in some cases a wider array of adaptive systems. technology for the recognition and conversion of hand printed and machine generated characters into digital languages such as ASCII ASCII or American Standard Code for Information Interchange, a set of codes used to represent letters, numbers, a few symbols, and control characters. Originally designed for teletype operations, it has found wide application in computers. code of Unicode. A registration statement relating to relating to relate prep → concernant relating to relate prep → bezüglich +gen, mit Bezug auf +acc these securities has been filed with the Securities and Exchange Commission but has not yet become effective. These securities may not be sold nor may offers to buy be accepted prior to the time the registration statement becomes effective. This news release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of these securities in any state in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such State. The offer is made only by means of the Prospectus, a copy of which may be obtained from Cruttenden Roth Inc.: 600 California Street, 14th Floor, San Francisco, CA 94108, telephone: 415/782-5000; 18301 Von Karman, Irvine, CA 92715, telephone: 800/678-9147. CONTACT: Mitek Systems Inc. John Kessler, 619/635-5900 619/635-5908 (fax) |
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