ITUS Announces February 24, 2017 is the Ownership Day for the ITUS Rights Offering

LOS ANGELES, CA--(Marketwired - February 23, 2017) - ITUS Corporation ("ITUS") (NASDAQ: ITUS) announced that Friday, February 24, 2017, is the ownership day for its rights offering. The ownership day is the last day to purchase ITUS shares to be eligible for the ITUS rights offering. Because stock transactions typically take three days to clear, shares that are purchased by 4:00 p.m. Eastern Time on February 24, 2017 will receive a right in the offering.

The calendar for the 2017 rights offering is as follows:

Friday, February 24		Ownership Day -- last day to purchase ITUS common stock to receive rights (must purchase by 4:00 P.M. Eastern Time to become a shareholder on the Record Date).
Wednesday, March 1		Record Date (must own ITUS common stock to be eligible to receive rights); Maximum Price for rights offering is set.
Friday, March 3		Subscription Period begins.
Friday, March 24		Subscription Period ends at 5:00 P.M. Eastern Time (subject to extension of up to thirty (30) days at the discretion of the Company).

ITUS's board of directors has approved a rights offering for ITUS shareholders of up to $12,000,000. The rights offering will include the non-transferable right to purchase one (1) share of ITUS common stock, at a discount, for each share of ITUS common stock owned by shareholders on the ownership day of Friday, February 24, 2017. The discounted price will be the lesser of (i) twenty-five percent (25%) discount to the volume weighted average price for ITUS common stock for the five (5) trading day period through and including Wednesday, March 1, 2017 (the "Record Date"), subject to ITUS board approval and (ii) fifteen percent (15%) discount to the volume weighted average price for ITUS common stock for the five (5) trading day period through and including Friday, March 24, 2017.