Katie...I'll take that public admission that you were wrong regarding ARGNW warrants exercisable at a 1:1 ratio. As announced by the company it is 5 warrants for 1 Class A share . In the future, please do not be so adamant about your DD unless you fully understand what you read. You could possibly cost people a great deal of money. You repeatedly insisted that ARGNW would track ARGNA above $25 and many bought on your strong recommendations. When I tried to warn people that it would take 5 warrants to buy 1 share you repeatedly posted that I was wrong.
(COMTEX) B: Amerigon Announces Adjustment to Exercise Price of Class
B: Amerigon Announces Adjustment to Exercise Price of Class A Warrants
IRWINDALE, Calif., Mar 30, 2000 /PRNewswire via COMTEX/ -- Amerigon
Incorporated (Nasdaq: ARGNA) announced today that the exercise price of its
publicly traded Class A Warrants (OTC Bulletin Board: ARGNW) has been lowered as
a result of the issuance of warrants to Ford Motor Company (NYSE: F) to purchase
shares of Amerigon Class A Common Stock. The warrants granted to Ford were part
of the agreement announced on March 27 under which Ford agreed to use Amerigon's
proprietary Climate Control Seat(TM) (CCS(TM)) system for a period of five
years. In connection with this announcement, Amerigon President Richard A.
Weisbart also commented "We want to make this as straightforward as possible for
our investors. Rather than continue with the requirement that five warrants must
be exercised in order to acquire one share of Amerigon Class A Common Stock, the
Company has elected, as permitted under the Warrant Agreement, to implement a
plan to reduce by a factor of five the number of outstanding Class A Warrants."
The Ford transaction effects the Warrants by lowering to $24.149, from $25.00,
the total exercise price that must be paid upon the exercise of five Class A
Warrants for one share of Amerigon Class A Common Stock.
In addition to the exercise price reduction, because of certain anti-dilution
protections in the Warrant Agreement, additional Class A Warrants will be issued
and the total number of shares of Class A Common issuable upon the exercise of
the Class A Warrants has been increased by 49,976 shares to 1,468,776 shares. To
issue the additional Warrants, the Company will distribute an additional 0.0352
Warrants for each Warrant held by Class A Warrant holders of record as of March
27, 2000.
In order to effect the reduction in the total number of Class A Warrants and the
issuance of the additional Warrants, the Company plans to send a letter of
transmittal to the registered holders of all outstanding publicly traded Class A
Warrants. The letter of transmittal will be used by the Warrant holders to
exchange their current Warrant certificates for new Warrant certificates
reflecting the one-for-five reduction and the issuance of the additional
Warrants. Following the reduction in the total number of Class A Warrants and
the surrender by holders of the existing Class A Warrant certificates, each of
the then publicly traded Class A Warrants outstanding will represent the same
interest in Amerigon as five of the currently outstanding Class A Warrants.
After the surrender by holders of the existing Class A Warrant certificates, the
Company will have 1,468,776 outstanding Warrants (down from 7,343,880) to issue
1,468,776 shares of Class A Common Stock, and only one Class A Warrant will be
required to purchase one share of Amerigon Class A Common Stock at an exercise
price of $24.149.
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.
SOURCE Amerigon Incorporated
|
