GlobeNewswire Inc | Nov 1, 2021 05:29PM EDT

November 01, 2021

SANTIAGO, Chile, Nov. 01, 2021 (GLOBE NEWSWIRE) -- ITA CORPBANCA (NYSE: ITCB; SSE: ITAUCORP) (the Company) commenced a statutory preemptive rights offering (the Statutory Preemptive Rights Offering) relating to an offering of rights (the Rights) entitling holders of the Companys outstanding common shares, including shares represented by American Depository Shares, to acquire an aggregate of 461,111,111,111 of the Companys common shares.

On October 22, 2021 the Company announced that Corp Group Banking S.A. (CorpGroup), which is subject to the United States Bankruptcy Court for the District of Delawares (the Court) oversight and jurisdiction as a result of CorpGroup having filed for protection under the United States Bankruptcy Code on June 25, 2021, filed a request with the Court to allow CorpGroup to sell its Rights. Pursuant to the order of the Court dated October 20, 2021, CorpGroup offered 10.6% of its Rights in an auction in Chile (subasta), and the remaining 16.56% were transferred to creditors of CorpGroup, including affiliates of Ita Unibanco Holding S.A. (IUH), the Companys controlling shareholder.

The company has been informed by IUH that on November 2, 2021, ITB Holding Brasil Participaes Ltda. (ITB), an affiliate of IUH, will subscribe for the Rights that had been transferred to IUH as authorized by the Court and described herein (amount to 76,166,437,592 Rights, representing approximately 16.5% of the Companys common shares as of the record date of the Statutory Preemptive Rights Offering) in full in the Statutory Preemptive Rights Offering. In addition, IUH had previously exercised its Rights in the Statutory Preemptive Rights Offering, representingapproximately 39.2% of the Companys outstanding common shares, which IUH, directly and through certain affiliates, received upon commencement of the Statutory Preemptive Rights Offering.

The Statutory Preemptive Rights Offering expires at 11:59 p.m. (Santiago time) on November 2, 2021. The Company will inform promptly after such expiration the subscription results in such Statutory Preemptive Rights Offering.

Cautionary Statement Concerning Forward-Looking Statements

The Private Securities Litigation Reform Act of 1995 provides a safe harbor for forward-looking statements made by or on behalf of the Company. By their nature, all forward-looking statements are not guarantees of future performance or results and are subject to risks and uncertainties that are difficult to predict and/or quantify. Actual results may differ materially from those contemplated by the forward-looking statements for a number of reasons as described in the Companys SEC filings, including those set forth in the Risk Factors section and under the heading Cautionary Language Regarding Forward-Looking Statements in the Companys annual report on Form 20-F for the fiscal year ended December 31, 2020.

You are cautioned not to place undue reliance on the Companys forward-looking statements. The Companys forward-looking statements are and will be based upon managements then-current views and assumptions regarding future events and operating performance, and are applicable only as of the dates of such statements. The Company does not assume any duty to update or revise forward-looking statements, whether as a result of new information, future events, uncertainties or otherwise.

Contact Information

For further information, please contact:

ITA CORPBANCARosario Norte 660Las CondesSantiago, ChileAttention: Investor RelationsTelephone Number: +562-2660-1751

The press release is also available on the companys investor relations website at ir.itau.cl.

Investor Relations Ita Corpbanca+56 (2) 2660-1701 / IR@itau.cl / ir.itau.cl