Kopp to sell more than 1 million shares of Superconductor Technologies

By Lisa Kerner

Charlotte, N.C., Sept. 2 - A group of Superconductor Technologies Inc. investors led by Kopp Investment Advisors, LLC confirmed they intend to sell or otherwise reduce their holdings by 1,087,745 shares of common stock no later than June 30, 2010, according to a schedule 13D/A filed with the Securities and Exchange Commission on Wednesday.

The shareholders also granted an irrevocable proxy to the company's board of directors with respect to 1,087,745 shares, less any shares that cease to be beneficially owned by Kopp and its affiliates after Aug. 27.

LeRoy C. Kopp owns a total of 5,587,900 shares, or 24.8%, of Superconductor Technologies.

Based in Santa Barbara, Calif., Superconductor Technologies is a provider of wireless, adaptive-filtering and cryogenics technologies.

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