Superconductor Tech (SCON) Enters New $2.5M Direct Offering at $1.05/Share
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Superconductor Technologies Inc. (Nasdaq: SCON) has entered into agreements with certain institutional investors for a registered direct placement of approximately $2.5 million of common stock at a price of $1.05 per share. This reflects additional demand for STI's recently announced $4.6 million offering.
This offering is on the same terms and conditions as the Pending Offering. The Company will issue to the investors warrants to purchase up to 1,773,750 shares of common stock. The warrants have an exercise price of $1.35 per share, and are exercisable 6 months after issuance and terminate five years after the date of issuance.
This offering is on the same terms and conditions as the Pending Offering. The Company will issue to the investors warrants to purchase up to 1,773,750 shares of common stock. The warrants have an exercise price of $1.35 per share, and are exercisable 6 months after issuance and terminate five years after the date of issuance.
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