New Issue: American Technology settles $9.49 million private placement of shares

By Sheri Kasprzak

New York, Aug. 8 - American Technology Corp. wrapped a $9,497,498 private placement.

The company issued 4,870,512 shares at $1.95 each to a group of institutional investors.

The investors received warrants for 1,948,205 shares, exercisable through Aug. 6, 2010 at $2.67 each. The warrants become exercisable on Feb. 7, 2007.

Investors in the deal include Special Situations Fund III QP, LP; Special Situations Fund III LP; Special Private Equity Fund, LP; Special Situations Technology Fund, LP; Special Situations Technology Fund II, LP; Iroquois Master Fund, LLC; and ICF, LLC.

Olympus Securities, LLC was the placement agent.

Proceeds will be used for working capital.

San Diego-based American Technology produces directed-sound technologies.

Issuer:	American Technology Corp.
Issue:	Stock
Amount:	$9,497,498
Shares:	4,870,512
Price:	$1.95
Warrants:	For 1,948,205 shares
Warrant expiration:	Aug. 6, 2010
Warrant strike price:	$2.67
Investors:	Special Situations Fund III QP, LP; Special Situations Fund III LP; Special Private Equity Fund, LP; Special Situations Technology Fund, LP; Special Situations Technology Fund II, LP; Iroquois Master Fund, LLC; and ICF, LLC
Placement agent:	Olympus Securities, LLC
Settlement date:	Aug. 7
Stock symbol:	Nasdaq: ATCO
Stock price:	$2.30 at close Aug. 7

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