Mitek Announces Pricing of Common Stock Offering

Mitek Announces Pricing of Common Stock Offering

SAN DIEGO, June 25, 2013 (GLOBE NEWSWIRE) -- Mitek Systems, Inc. (Nasdaq:MITK)
( announced today the pricing of an underwritten public
offering of 2,857,142 shares of its common stock at a purchase price of $5.25
per share. The gross proceeds to Mitek from this offering are expected to be
approximately $15,000,000, before deducting underwriting discounts and other
estimated offering expenses. Mitek has granted the underwriters a 30-day
option to purchase up to an aggregate of 428,571 additional shares of common
stock to cover overallotments, if any. All of the shares in the offering are
to be sold by Mitek. The offering is expected to close on or about June 28,
2013, subject to customary closing conditions.

Mitek expects to use the net proceeds from the offering for general corporate
purposes, including working capital requirements.

In connection with the offering, William Blair & Company, L.L.C. is acting as
the sole underwriter.

A shelf registration statement relating to the shares of common stock to be
issued in the offering has been filed with the Securities and Exchange
Commission (SEC) and is effective. This press release does not constitute an
offer to sell, or the solicitation of an offer to buy, these securities, nor
will there be any sale of these securities in any state or other jurisdiction
in which such offer, solicitation or sale is not permitted.

A preliminary prospectus supplement relating to the offering has been filed
with the SEC and a final prospectus supplement relating to the offering will
be filed with the SEC.When available, copies of the final prospectus
supplement and accompanying prospectus relating to the offering may be
obtained by contacting William Blair & Company, L.L.C. at 222 West Adams
Street, Chicago, IL 60606, Attention: Prospectus Department, by telephone at
(800) 621-0687, or by email at Electronic copies
of the final prospectus supplement and accompanying prospectus will also be
available on the SEC website at

About Mitek

Headquartered in San Diego, CA, Mitek is a mobile imaging software solutions
provider that allows users to remotely deposit checks, pay their bills, get
insurance quotes, and transfer credit card balances by snapping a picture with
their camera-equipped smartphones and tablets instead of using the device
keyboard. For more information about Mitek, please visit MITK-F

Notice Regarding Forward-Looking Statements

This news release contains certain forward-looking statements that involve
risks and uncertainties, including, without limitation, statements regarding
the completion, timing and size of the public offering, the Underwriters'
exercise of the over-allotment option, Mitek's anticipated proceeds from the
offering and its use of those proceeds. Actual results or developments may
differ materially from those projected or implied in these forward-looking
statements. Factors that may cause such a difference include, without
limitation, risks and uncertainties related to market conditions and the
satisfaction of customary closing conditions related to the public offering.
There can be no assurance that Mitek will be able to complete the public
offering on the anticipated terms, or at all.

Additional risks and uncertainties faced by the Company are contained from
time to time in the Company's filings with the SEC, including, but not limited
to, the Company's Annual Report on Form 10-K for the fiscal year ended
September 30, 2012 and its subsequent quarterly reports on Form 10-Q and
current reports on Form 8-K, which you may obtain for free on the SEC's
website at Collectively, these risks and uncertainties
could cause the Company's actual results to differ materially from those
projected in the forward-looking statements contained herein and you are
cautioned not to place undue reliance on these forward-looking statements,
which speak only as of the date hereof. The Company disclaims any intention or
obligation to update, amend or clarify these forward-looking statements,
whether as a result of new information, future events or otherwise, except as
may be required under applicable securities laws.

CONTACT: Press Contact:
         Ann Reichert
         Investor Information:

company logo
Press spacebar to pause and continue. Press esc to stop.