NORTHVILLE, Mich., March 23, 2012 /PRNewswire/ -- Amerigon
Incorporated (NASDAQ-GS: ARGN) ("Amerigon" or the "Company") today
announced the completion of its previously announced public
offering of 4,600,000 shares of its common stock. Amerigon
also completed the sale of 690,000 additional shares of its common
stock pursuant to the full exercise of the over-allotment option
granted to the underwriters of the public offering. The
shares were sold at a price to the public of $15.25 per share. As a result of the sale
of the shares of common stock in the public offering and pursuant
to the over-allotment option, Amerigon received gross proceeds of
$80.7 million. Net proceeds to
Amerigon from the sale of the shares including the over-allotment
option were $75.5 million after
deduction of underwriting discounts and other estimated offering
expenses payable by the Company.
Roth Capital Partners served as the sole book-running manager
and Craig-Hallum Capital Group served as co-manager in the
offering.
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.
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, thermal storage bins, 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
Securities and Exchange Commission (SEC) filings and reports,
including, but not limited to, its Form 10-K for the year ended
December 31, 2011; 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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SOURCE Amerigon Incorporated