Underwriter Aegis helps raise proceeds for general corporate purposes
By Devika Patel
Knoxville, Tenn., Nov. 21 - Superconductor Technologies Inc. priced a $1 million public sale of stock with a $150,000 greenshoe in a prospectus supplement filed Wednesday with the Securities and Exchange Commission. The deal was announced Monday.
The company will sell 3,333,334 common shares at $0.30 apiece. The price per share is a 3.45% premium to the Nov. 20 closing share price of $0.29.
Aegis Capital Corp. is the underwriter.
Settlement is expected Nov. 26.
Proceeds will be used for general corporate purposes.
Based in Austin, Texas, Superconductor makes products for wireless voice and data applications.
| Issuer: | Superconductor Technologies Inc.
|
| Issue: | Common shares
|
| Amount: | $1 million
|
| Greenshoe: | $150,000
|
| Shares: | 3,333,334
|
| Price: | $0.30
|
| Warrants: | No
|
| Underwriter: | Aegis Capital Corp.
|
| Announcement date: | Nov. 19
|
| Pricing date: | Nov. 21
|
| Settlement date: | Nov. 26
|
| Stock symbol: | Nasdaq: SCON
|
| Stock price: | $0.29 at close Nov. 20
|
| Market capitalization: | $10.88 million
|
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