Superconductor Technologies announces $11.26m investment from US institutional investors

23rd June 2009

US technology company Superconductor Technologies, Inc., has announced that certain US-based institutional investors have agreed to invest $11.26m in cash to purchase 3,752,005 million shares of STI common stock.

STI expects to use the approximately $10.58m in net proceeds for general working capital purposes, the company said.

A shelf registration statement relating to the securities STI intends to sell has previously been declared effective by the Securities and Exchange Commission.

STI, headquartered in Santa Barbara, California, develops superconducting materials, providing interference elimination solutions to the commercial wireless industry, as well as pursuing opportunities in the electrical grid and in equipment platforms that utilise electrical circuits.

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