NORTHVILLE, Mich., March 20, 2012 /PRNewswire/ -- Amerigon
Incorporated (NASDAQ-GS: ARGN) ("Amerigon" or the "Company") today
announced the pricing of its previously-announced underwritten
public offering of newly issued shares of common stock, no par
value. The offering to the public of 4,600,000 shares at a
price of $15.25 per share is expected
to result in gross proceeds of $70,150,000. The net proceeds to the
Company from this offering are expected to be approximately
$65,656,000, after deduction of
underwriting discounts and other estimated offering expenses and
assuming no exercise of the over-allotment option. The
underwriters have also been granted a 30-day option to purchase up
to 690,000 additional common shares to cover over-allotments, if
any. Subject to customary conditions, the offering is
expected to close on March 23,
2012.
The Company intends to use the net proceeds from this offering
to make future redemption installment payments on, and pay
dividends on, its outstanding Series C 8% convertible preferred
stock and, to the extent not used for such purposes, to prepay its
outstanding debt obligations.
Roth Capital Partners served as the sole book-running manager
and Craig-Hallum Capital Group served as co-manager in the
offering.
Copies of the final prospectus supplement and accompanying base
prospectus relating to this offering may be obtained from Roth
Capital Partners, LLC, 888 San Clemente, Newport Beach, CA 92660, (800) 678-9147 or
email: rothecm@roth.com or by accessing the U.S. Securities and
Exchange Commission's ("SEC") website, www.sec.gov.
This offering was made pursuant to a prospectus supplement to
the Company's prospectus filed with the SEC as part of the
Company's "shelf" registration statement on Form S-3 (File No.
333-176887) that was declared effective by the SEC on September 28, 2011.
This press release shall not constitute an offer to sell or the
solicitation of an offer to buy, nor shall there be any sale of
these securities in any state or other jurisdiction in which such
offer, solicitation or sale would be unlawful prior to registration
or qualification under the securities laws of such state or other
jurisdiction.
About Amerigon
Amerigon (NASDAQ-GS: ARGN) is a global developer and marketer of
innovative thermal management technologies for a broad range of
heating and cooling and temperature control applications.
Automotive products based on Amerigon technologies include actively
heated and cooled seat systems and cup holders, heated and
ventilated seat systems, heated seat and steering wheel systems,
cable systems and other electronic devices. Its advanced technology
team is developing more efficient materials for thermoelectrics and
systems for waste heat recovery and electrical power generation for
the automotive market that also have far-reaching applications for
consumer products as well as industrial and technology
markets. Amerigon has more than 5,000 employees in facilities
in the United States, Germany, Mexico, China, Canada, Japan, England, Korea and the Ukraine. For more information, go to
www.amerigon.com.
Certain matters discussed in this release are forward-looking
statements that involve risks and uncertainties, and actual results
may be different. Important factors that could cause the
Company's actual results to differ materially from its expectations
in this release are risks that sales may not significantly
increase, additional financing, if necessary, may not be available,
new competitors may arise and adverse conditions in the automotive
industry may negatively affect its results. The liquidity and
trading price of its common stock may be negatively affected by
these and other factors. Please also refer to Amerigon's SEC
filings and reports, including, but not limited to, its Form 10-K
for the year ended December 31, 201;
all of which are available free of charge on the SEC's website at
www.sec.gov. Amerigon expressly disclaims any intent or obligation
to update any forward-looking statements.
Contact:
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Allen
& Caron Inc
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Jill
Bertotti (investors)
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jill@allencaron.com
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Len Hall
(media)
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len@allencaron.com
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(949)
474-4300
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SOURCE Amerigon Incorporated