Superconductor Technologies Closes $12 Mln Underwritten Public Offering

(RTTNews) - Superconductor Technologies Inc. (SCON) said Friday that it has closed its underwritten public offering of units of common stock and warrants.

The company received net proceeds of about $10.9 million after deducting underwriting discounts and commissions and offering expenses.

A total of 5,721,675 shares of common stock were issued, plus an additional 954,001 shares subject to pre-funded warrants with an exercise price of $0.01 per pre-funded warrant. In addition, a total of 6,675,676 five year warrants and 3,337,838 two year warrants were issued, each with an exercise price of $2.57.