American Technology reveals investors in $14 million private placement

By Sheri Kasprzak

New York, July 19 - American Technology Corp. has listed the investors in the $14 million private placement Prospect News reported Monday.

The company sold 2,868,851 shares at $4.88 each to Special Situations Fund III, LP; Special Situations Fund, LP; Special Situations Technology Fund, LP; Special Situations Technology Fund II, LP; SDS Capital Group SPC, Ltd.; Iroquois Master Fund Ltd.; Pequot Scout Fund, LP and Pequot Mariner Master Fund, LP.

As previously reported, the investors also received class A warrants for 717,213 shares, exercisable at $6.36 each through July 2009 and class B warrants for 864,706 shares, exercisable at $7.23 each for six months after the registration statement is declared effective.

Olympus Securities, LLC was the placement agent.

Based in San Diego, American Technology produces directed-sound technologies and long-range acoustic devices.

On Tuesday, American Technology's stock lost $0.10 to close at $5.47.

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