Filed pursuant to Rule No. 424(b)(3)
File Number 333-105740
PROSPECTUS SUPPLEMENT NO. 4
(to Prospectus dated June 10, 2003, Prospectus Supplement No. 1
dated June 24, 2003, Prospectus Supplement No. 2 dated June 27, 2003 and
Prospectus Supplement No. 3 dated September 4, 2003)
2,887,425 SHARES
AMERICAN TECHNOLOGY CORPORATION
COMMON STOCK
This Prospectus Supplement No. 4 supplements our prospectus dated June 10, 2003,
Prospectus Supplement No. 1 dated June 24, 2003, Prospectus Supplement No. 2
dated June 27, 2003 and Prospectus Supplement No. 3 dated September 4, 2003. The
prospectus relates to the resale of shares of our common stock by the selling
stockholders identified in the prospectus (including their transferees,
pledgees, donees or other successors). You should read this Prospectus
Supplement No. 4 in conjunction with the prospectus and the prior prospectus
supplements listed above.
AMENDMENTS TO SELLING STOCKHOLDER TABLE
The information relating to Peter Corcoran and Carlisle Jones and
certain footnotes contained in the first table of selling stockholders listed in
the prospectus is hereby amended as follows:
COMMON COMMON
STOCK STOCK TOTAL COMMON MAXIMUM
UNDERLYING UNDERLYING STOCK NUMBER OF
SERIES E COMMON BENEFICIALLY SHARES SHARES OF COMMON STOCK
PREFERRED STOCK OUTSTANDING OWNED BEFORE OFFERED BENEFICIALLY OWNED
SELLING STOCKHOLDER STOCK WARRANT COMMON STOCK OFFERING HEREBY AFTER OFFERING
------------------- -------- ------- ------------ --------- -------- --------------
(1) (2) (27) (3) (4)
NAME NUMBER NUMBER NUMBER NUMBER NUMBER NUMBER %
---- -------- ------ -------- --------- -------- -------- -----
Carlisle Jones 61,550 -- 15,000 212,047 76,550 (8) 165,560 1.1%
Peter Corcoran -- -- 47,733 47,733 47,733 (23) -- *
(1) Represents shares of common stock issuable upon conversion of an aggregate
of 253,250 shares of Series E Preferred Stock assuming a conversion price
of $2.00 per share and assuming the shares are held to the December 31,
2006 end of their term. The holders of our outstanding shares of Series E
Preferred Stock may convert these shares into shares of our common stock at
a conversion price equal to the lower of $3.25 or 90% of volume-weighted
average price of our common stock for the five trading days prior to
conversion. The conversion rate cannot however be lower than $3.25 before
September 30, 2003, or lower than $2.00 after such date. The conversion
value of the Series E Preferred Stock is the original purchase price,
increased by $.60 per year from February 28, 2003. The actual number of
shares of common stock issuable upon conversion of the Series E Preferred
Stock may be less than set forth in the chart depending on when conversion
occurs.
(2) Includes 365,235 shares of common stock issuable upon exercise of warrants
issued to the purchasers of Series E Preferred Stock. The warrants are
exercisable at $3.25 per common share, at any time until December 31, 2007.
(8) Includes shares owned by Carlisle Jones and Jeanne M. Jones. Includes
warrants exercisable for 50,000 common shares other than those covered by
this prospectus and common shares issuable on conversion of $100,000
principal amount of convertible subordinated promissory notes. 10,000
shares of Series E Preferred Stock are owned of record by the selling
stockholder. The selling stockholder exercised common stock warrants to
purchase 15,000 common shares at $3.25 per share on September 22, 2003.
(23) The selling stockholder exercised common stock warrants to purchase 15,000
common shares at $3.25 per share on September 22, 2003 and voluntarily
converted 10,000 shares of Series E Preferred Stock into 32,733 shares of
common stock on March 25, 2003.
The date of this prospectus supplement is April 6, 2004.