LRAD Corporation Receives $4.3 Million Through Warrant Exercise
SAN DIEGO, CA, Feb 08, 2011 (MARKETWIRE via COMTEX) -- LRAD Corporation (LRAD),
the world leader in acoustic hailing devices (AHDs), announced today that it
received over $4.3 million through the exercise of 1,627,945 warrants priced at
$2.67 per share that were scheduled to expire February 6, 2011.
In consideration of the warrant holders exercising their warrants above the
current market price of the Company's common stock, the Company issued to the
exercising warrant holders new warrants to purchase up to 1,627,945 shares of the
Company's common stock at an exercise price of $2.67 per share. The new warrants
are exercisable from August 4, 2011 through February 4, 2016.
For more information on the warrant exercise and new warrant issuance, please see
the Company's Form 8-K filed with the Securities and Exchange Commission February
8, 2011.
About LRAD Corporation LRAD Corporation's Long Range Acoustic Device(R) (LRAD(R))
directional communication systems are being used around the world in diverse
applications including fixed and mobile military deployments, maritime security,
critical infrastructure and perimeter security, commercial security, border and
port security, law enforcement and emergency responder communications, and
wildlife preservation and control. For more information about LRAD Corporation
and its long-range directional sound systems, please visit the company's web site
at lradx.com.
SOURCE: LRAD Corporation |
