Aura Systems settles litigation with former director; pays $10M, issues 3.3M warrants

AURA SYSTEMS INC

Agreed to pay $10 million over seven years, with $3 million due within three months; 6% interest on unpaid balance.
Issues seven-year warrants for up to 3.3 million shares at $0.85 per share to the Kopple parties.
Settlement resolves claims exceeding $13 million in loans and 23 million warrants originally sought in 2017 litigation.
No admission of fault; mutual release of claims; company may prepay without penalty.
All amounts must be paid within eight years; if uncured default, plaintiffs can enter judgment against Aura.

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