secwatch.observer — SEC 8-K summary
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Issuer:     ITERIS, INC. (—)
CIK:        0000350868
Form:       8-K
Filed at:   2024-11-01T23:59:59+00:00
Accession:  0001140361-24-044894
Event type: m_and_a
Sentiment:  neutral
Materiality: 1.00
Item codes: 2.01, 3.01, 3.03, 5.01, 5.02, 5.03, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Iteris acquired by Almaviva for $7.20 per share; stock delisted from Nasdaq
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- All outstanding shares converted into $7.20 cash per share, aggregate consideration ~$337M.
- Iteris common stock ceased trading on Nasdaq; company will deregister with SEC.
- More than 98% of voted shares (71% of outstanding) approved the merger.
- Joe Bergera remains President and CEO; existing management team continues.
- Iteris will operate as a separate legal entity under Almaviva, retaining its brand.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/350868/000114036124044894/0001140361-24-044894-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/350868/000114036124044894/ef20038030_8k.htm
  HTML page:      https://secwatch.observer/filing/0001140361-24-044894

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