San Diego Business Journal

Mitek Prices Common Stock Offering at $5.25 a Share

Thursday, June 27, 2013

Mitek Systems Inc., the San Diego maker of software used by financial companies enabling consumers to deposit checks to their accounts via digital images, said it priced a public stock offering of about 2.8 million shares at $5.25 per share.

Mitek granted its underwriters, William Blair & Co., a 30-day option to purchase up to about 429,000 additional shares of common stock to cover overallotments if any. All shares are being sold by the company.

The gross proceeds from the offering are expected to be about $15 million before expenses. The company said it will use the net proceeds for general corporate purposes, including working capital requirements.

— SDBJ Staff Report