Iteris announces redemption of $1.5 million 6% convertible debentures

By Devika Patel

Knoxville, Tenn., Jan. 15 - Iteris, Inc. redeemed $1.5 million of its 6% convertible debentures due May 2009 on Jan. 9, according to an 8-K filed Thursday with the Securities and Exchange Commission.

The company paid $1.47 million plus all unpaid interest for the debentures.

The securities were held by Irvin Kessler and Provident Premier Master Fund Ltd. and were originally issued in May 2004.

Iteris, based in Anaheim, Calif., develops roadway and automotive sensors.

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