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8-K - FORM 8-K - Clearday, Inc. | v57156e8vk.htm |
Exhibit 99.1
SUPERCONDUCTOR TECHNOLOGIES INC. ANNOUNCES
PRICING OF COMMON STOCK OFFERING
PRICING OF COMMON STOCK OFFERING
SANTA BARBARA, Calif., Aug. 26, 2010 Superconductor Technologies Inc. (NASDAQ: SCON) (STI), a
world leader in the development and production of high temperature superconducting (HTS) materials
and associated technologies, announced the pricing on August 25, 2010 of an underwritten public
offering of 4,000,000 shares of its common stock at a price of $1.50 per share, for gross proceeds
of $6.0 million. The net proceeds of the offering after deducting underwriting discounts and
commissions and estimated offering expenses are expected to be approximately $5.3 million.
STI expects to close the sale of its common stock, subject to customary conditions, on or about
August 31, 2010.
Jeff Quiram, STIs president and chief executive officer, said, I am proud of the solid progress
we are making on our HTS wire program. We believe the enormous potential for the 2G HTS wire
market creates a compelling investment opportunity. We intend to use this raise to contribute to
funding this major initiative as well as to working capital for our ongoing business serving our
wireless customers as they continue to invest in performance improvement projects for their
networks.
MDB Capital Group LLC and Feltl and Company, Inc. are acting as co-managers for the offering. STI
has granted the underwriters a 45-day option to purchase up to an additional 600,000 shares of
STIs common stock to cover over-allotments, if any.
This announcement shall not constitute an offer to sell or a solicitation of an offer to buy these
securities nor shall there be any offer or sale of these securities in any state or jurisdiction in
which such an offer, solicitation or sale would be unlawful. The offering will be made only by
means of a prospectus, copies of which may be obtained from MDB Capital Group LLC 401 Wilshire
Boulevard, Suite 1020, Santa Monica, CA 90401, (310) 526-5000 or Feltl and Company, Inc. 2100
LaSalle Plaza, 800 LaSalle Avenue, Minneapolis, MN 55402, (612) 492-8800.
About Superconductor Technologies Inc. (STI)
Superconductor Technologies Inc., headquartered in Santa Barbara, CA, has been a world leader in
HTS materials since 1987, developing more than 100 patents as well as proprietary trade secrets and
manufacturing expertise. For more than a decade, STI has been providing innovative interference
elimination and network enhancement solutions to the commercial wireless industry. The company is
currently leveraging its key enabling technologies, including RF filtering, HTS materials and
cryogenics to develop energy efficient, cost-effective and high performance second generation (2G)
HTS wire for existing and emerging power applications, to develop applications for advanced RF
wireless solutions and innovative adaptive filtering, and for government R&D. Superconductor
Technologies Inc.s common stock is listed on the NASDAQ Capital Market under the ticker symbol
SCON.
Contact
For further information please contact Investor Relations, invest@suptech.com, Kirsten Chapman or
Cathy Mattison, of Lippert / Heilshorn & Associates, +1-415-433-3777, for Superconductor
Technologies Inc.
Safe Harbor Statement
Safe Harbor statement under the Private Securities Litigation Reform Act of 1995: Statements in
this press release regarding our business that are not historical facts are forward-looking
statements that involve risks and uncertainties, including without limitation, the risk that this
offering will not close. Forward-looking statements are not guarantees of future performance and
are inherently subject to uncertainties and other factors which could cause actual results to
differ materially from the forward-looking statements. These factors and uncertainties include, but
are not limited to: our limited cash and a history of losses; the limited number of potential
customers; the limited number of suppliers for some of our components; there being no significant
backlog from quarter to quarter; our market being characterized by rapidly advancing technology;
fluctuations in product demand from quarter to quarter; the impact of competitive filter products,
technologies and pricing; manufacturing capacity constraints and difficulties; and local, regional,
and national and international economic conditions and events and the impact they may have on us
and our customers, such as the current worldwide recession.
Forward-looking statements can be affected by many other factors, including, those described in the
Business and Managements Discussion and Analysis of Financial Condition and Results of
Operations sections of STIs Annual Report on Form 10-K for the year ended December 31, 2009 and
in STIs other public filings. These documents are available online at STIs website,
www.suptech.com, or through the SECs website, www.sec.gov. Forward-looking statements are based on
information presently available to senior management, and STI has not assumed any duty to update
any forward-looking statements.