Aura Reduces the Fully Diluted Number of Common Shares by 808,500 Through an Exchange of Anti Diluti

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Aura Reduces the Fully Diluted Number of Common Shares by 808,500 Through an Exchange of Anti Dilutive Warrants for a Fixed Number of Common Shares

EL SEGUNDO, Calif.--(BUSINESS WIRE)-- Aura Systems, Inc. (OTCBB: AUSI) announced today that it entered into an agreement with the previous $3.6 million of secured loan holders to reduce the fully diluted number of common shares by exchanging the holder's issued and outstanding 5,390,000 five year warrants with anti dilution provisions, for a fixed 4,581,500 of common shares and no warrants. The $3.6 million secured notes were paid in full in cash as previously announced on April 1, 2013.

The exchange agreement cancels all of the 5,390,000 warrants and removes any potential future obligations of the Company to the warrant holders that could potentially arise under certain conditions.


For more information on Aura Systems, Inc. visit www.aurasystems.com



Aura Systems, Inc.
Melvin Gagerman, Chairman and CEO
310-643-5300 x171
mgagerman@aurasystems.com
or
Dr. Ramesh Misra, President
310 643-5300 x 271
rmisra@aurasystems.com
or
Cipora Lavut
404 539-2161
clavut@aurasystems.com

KEYWORDS:   United States  North America  California

INDUSTRY KEYWORDS:

The article Aura Reduces the Fully Diluted Number of Common Shares by 808,500 Through an Exchange of Anti Dilutive Warrants for a Fixed Number of Common Shares originally appeared on Fool.com.

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