EXHIBIT 99.1
AMERIGON ANNOUNCES COMPLETION OF $12.5 MILLION
PRIVATE PLACEMENT OF COMMON SHARES
IRWINDALE, CA (June 16, 2000) . . . Amerigon Incorporated
Nasdaq: ARGNA) today announced that it has closed the sale
of an aggregate of 2.5 million restricted shares of its
Common Stock in a private placement to selected institutional
and other accredited investors, resulting in gross proceeds to
the Company of approximate $12.5 million. Roth Capital
Partners, Inc., of Newport Beach, CA represented the Company
as placement agent in the private transaction. A registration
statement relating to these securities is expected to be
filed with the Securities and Exchange Commission as soon as
reasonably practical, but in any event in no more than 90 days.
Included in the private placement are purchases of shares in an
aggregate amount of $1.5 million by the Company's controlling
shareholders, Big Beaver Investments LLC of Troy, MI and Westar
Capital II LLC of Costa Mesa, CA, both private investment companies.
Amerigon President & CEO Richard A. Weisbart commented, "The net
proceeds of this placement will help fund the development of
future products, expand our marketing efforts and repay certain
indebtedness. These funds should allow us to pursue our long-term
strategic objectives of long-term growth in sales, profits and
shareholder value."
Amerigon, an emerging player in the global automotive industry,
develops and markets proprietary products for automotive OEMs.
Its proprietary Climate Control Seat(tm) (CCS(tm)) technology provides
active heating and cooling for seat occupants and has debuted in
the 2000 Lincoln Navigator. The Company's other products include
its AmeriGuard(tm) radar sensor systems designed to extend the
driver's field of view in such vehicle applications as enhanced
parking aids, back-up warning systems and side object detection.
This release contains forward-looking statements within the meaning
of the "safe harbor" provisions of the Private Securities Litigation
Reform Act of 1995 that involve risks and uncertainties. Such
statements are based on management's current expectations and are
subject to a number of factors and uncertainties which could cause
actual results to differ materially from those described in the
forward looking statements, including, without limitation, demand
for the Company's products, uncertainties in the development of high
technology products, risks and delays in obtaining customer orders,
technological change, competition and other risks and uncertainties
that are detailed in the Company's Annual Report on Form 10-K and
other reports filed by it with the Securities and Exchange Commission.
