Ticker Symbol Changes to “ITWH"
DALLAS --
February 16, 2005i2 Technologies, Inc. (OTC: ITWO), a leading provider of demand-driven supply chain solutions designed to enable business agility, today announced that the company has completed a reverse split of its common stock. The company's common stock will commence trading under the symbol "ITWH" on the over-the-counter Pink Sheets when trading begins at 9:30 am EST, Thursday, February 17.
The new symbol results from the implementation of a reverse split of the company’s outstanding common stock at a 1-for-25 ratio. On a pre-split basis, i2 had 465,244,366 shares of common stock outstanding as of the end of the trading day on February 16, 2005. As a result of the reverse split, every 25 shares of common stock have been combined into one share of common stock and the total number of outstanding shares of common stock has been reduced to approximately 18.6 million shares.
In addition, the number of shares of common stock that may be issued upon the exercise of outstanding options and the conversion of outstanding preferred stock will be reduced proportionately. Instead of issuing any fractional shares as a result of the reverse split, stockholders will receive cash payments for such fractions after i2's transfer agent sells all of the aggregated fractional shares of common stock. Except for any changes as a result of the treatment of fractional shares, each holder of i2 common stock holds the same percentage of common stock outstanding immediately after the reverse stock split as such stockholder held immediately prior to the split.
As previously announced, the i2 Board of Directors approved the implementation of the reverse split in order to return the company's share price to a level that will satisfy the minimum bid price requirements for re-listing the common stock on the NASDAQ National Market.
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About i2
i2 is a leading provider of demand-driven supply chain solutions designed to enable business agility. i2's flexible solutions can synchronize demand and supply across an ever-changing global supply network. Nineteen of the AMR Research Top 25 Global Supply Chains belong to companies who are i2 customers. Seven of the Fortune global top 10 are also customers of i2. Founded in 1988 with a commitment to customer success and supply chain innovation, i2 has a history of delivering value by implementing solutions designed to provide a rapid return on investment. Learn more at www.i2.com.
i2 is a registered trademark of i2 Technologies US, Inc. and i2 Technologies, Inc.
i2 Cautionary Language
This press release may contain forward-looking statements that involve risks and uncertainties, including forward-looking statements regarding the commencement of trading of i2’s common stock under the symbol “ITWH” on February 17, 2005. These forward-looking statements involve risks and uncertainties that may cause actual results to differ from those projected. For a discussion of factors which could impact i2's financial results and cause actual results to differ materially from those in forward-looking statements, please refer to i2's recent filings with the SEC, particularly the Quarterly Report on Form 10-Q filed November 9, 2004 and the Annual Report on form 10-K/A filed March 17, 2004. i2 assumes no obligation to update the forward-looking information contained in this news release.
For further information, please contact:
Beth Elkin
i2 Corporate Communications
469-357-4225
beth_elkin@i2.com
Kellie Nugent
Shelton Investor Relations for i2
972-239-5119 ext 125
knugent@sheltongroup.com