Amerigon Announces Effectiveness of One-for-Five Reduction in Number of Class a Warrants
19 April 2000
Amerigon Announces Effectiveness of One-for-Five Reduction in Number of Class a WarrantsClass A Warrants to Trade Under Temporary Symbol IRWINDALE, Calif., April 19 Amerigon Incorporated (Nasdaq: ARGNA) said today that the one-for-five reduction in the number of its outstanding Class A Warrants (OTC Bulletin Board: ARGNW) announced on March 30 became effective at the close of trading on April 18 and, as of the opening of the market today, April 19, the Class A Warrants will temporarily trade under the symbol ARGMW. From today forward, only one Class A Warrant will be required to purchase one share of Class A Common Stock at an exercise price of $24.149. Prior to the one-for-five reduction in the number of Class A Warrants, five Class A Warrants had to be exercised to purchase one share of Amerigon Class A Common Stock at a total exercise price of $24.149. The total number of Class A Warrants outstanding is now approximately 1,468,755, down from approximately 7,343,775 prior to the reduction. These totals include the effect of the distribution to each Class A Warrant holder of record as of March 27 of an additional 0.0352 Class A Warrants for each Class A Warrant held, which the Company announced on April 5. The temporary trading symbol for the Class A Warrants (ARGMW) will be in effect for a period of twenty trading days from today. The trading symbol for the Class A Warrants will return to ARGNW effective with the opening of the market on May 17, 2000. No action is required by Class A Warrant holders with regard to the one-for-five reduction in the number of Class A Warrants outstanding, as their current Class A Warrant certificate(s), effective at the close of trading on April 18, are deemed to represent one-fifth of the number of Warrants indicated on their current certificate(s). The Company, however, has sent a letter to Class A Warrant holders recommending that each Class A Warrant holder surrender and exchange their current Warrant certificate(s) for a new Class A Warrant certificate(s) which reflects the one-for-five reduction in the number of Class A 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 Company's Climate Control Seat(TM) (CCS(TM)) 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. Contact: Investors, Damon Wright, 949-474-4300, damon@allencaron.com, or Media, Kari Rinkeviczie, 616-647-0780, kari@allencaron.com, both of Allen & Caron Inc, for Amerigon Incorporated.