Amerigon Comments on Distribution of Additional Class A Warrants
6 April 2000
Amerigon Comments on Distribution of Additional Class A Warrants; Announces Record Date and Process For 1-For-5 Reduction In Total Number Of Class A WarrantsIRWINDALE, Calif., April 5 Amerigon Incorporated said today that as previously announced on March 30, 2000, each Class A Warrant (OTC Bulletin Board: ARGNW) holder of record as of March 27, 2000 will receive an additional 0.0352 Class A Warrant for each Class A Warrant held. The Company expects to mail the additional warrants during the week of April 17, 2000. Class A Warrant holders will not be required to surrender their existing warrant certificates in connection with the distribution of the additional warrants. Following the distribution of the additional Class A Warrants, there will be approximately 7,343,775 Class A Warrants outstanding. Five Class A Warrants must be exercised to purchase one share of Class A Common Stock at an exercise price of $24.149. The Company also announced that a record date of April 18, 2000 has been set for the previously announced 1-for-5 reduction of its outstanding Class A Warrants. On April 18, 2000, each five outstanding Class A Warrants, including the Class A Warrants to be distributed as described above, will represent one Class A Warrant entitling each Class A Warrant holder to purchase one share of Class A Common Stock at an exercise price of $24.149. The total number of Class A Warrants after the reduction will be approximately 1,468,755 (down from approximately 7,343,775). No action is required by Class A Warrant holders with regard to the reduction in the number of warrants outstanding, as the outstanding Class A Warrant certificates will, commencing April 18, 2000, represent the reduced number of warrants. The Company plans, however, to send to the Class A Warrant holders a letter recommending that each Class A Warrant holder surrender their warrant certificate and receive a new warrant certificate representing the adjusted number of warrants. Allen & Caron Inc of Irvine, CA will serve as information agent for the Class A Warrant certificate exchange. All questions concerning the Warrant exchange should be directed to Jill Conner at Allen & Caron at (800) 452-1346. Amerigon, a technology-driven supplier to the global automotive industry, develops and supplies proprietary products for automotive OEMs. In addition to the Climate Control Seat (CCS) technology, the Company's products include the AmeriGuard(TM) radar sensing system, designed to improve driver's field of view in vehicle applications such as enhanced parking aids, back-up warning and side object detection for collision avoidance. For more information, contact Damon Wright (investors), 949-474-4300, damon@allencaron.com, or Kari Rinkeviczie (media), 616-647-0780, kari@allencaron.com, both of Allen & Caron Inc., for Amerigon.