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Technology Stocks : Superconductor Technologies : SCON -- Ignore unavailable to you. Want to Upgrade?

To: Donald Isenhower who wrote (227)	6/24/1999 11:58:00 AM
From: Wafa SHIHABI	Read Replies (1) \| Respond to of 903

DJ Superconductor Tech Closes $5M Pvt Equity Financing>SCON SANTA BARBARA, Calif. (Dow Jones)--Superconductor Technologies Inc. (SCON) entered into a private equity financing of gross proceeds of $5 million with Tredegar Investments Inc. and Wilmington Securities Inc., a unit of Hillman Co. In a press release Thursday, Superconductor Technologies said the financing will take place in two parts. The company raised $3.8 million in new equity in the convertible preferred shares. Superconductor Technologies sold 77,296 preferred shares, which have a cumulative dividend of 6% and are convertible into 1.5 million common shares. The company also issued warrants to purchase up to 154,592 common shares at $3 each. The second part will have the same terms as the first. Completion will take place after Superconductor Technologies has shareholder approval of the issuances. In a separate release Thursday, Superconductor Technologies said it signed a new working capital credit agreement with PNC Bank Corp.'s (PNC) Venture Bank @ PNC unit for a maximum of $2.5 million, which replaces the previous line of $1.5 million. Superconductor Technologies plans to use the expanded line of credit for working capital purposes. The new agreement expands the ability to borrow against eligible accounts receivable while requiring maintenance of minimum covenants similar to the previous credit facility. Superconductor Technologies makes wireless communications filter products. -Sam Favate; 201-938-5400

To: Donald Isenhower who wrote (227)	8/31/1999 2:30:00 AM
From: Wafa SHIHABI	Read Replies (1) \| Respond to of 903

Superconductor Technologies Inc. Dow Jones Newswires -- August 30, 1999 DJ Superconductor Tech Gets 5-Yr Pact From US Cellular By Johnathan Burns NEW YORK (Dow Jones)--U.S. Cellular Corp. (USM) may buy up to 1 million shares of Superconductor Technologies Inc. (SCON), as part of a five-year contract for improving cellular transmissions. Superconductor Technologies will offer warrants to U.S. Cellular to buy stock at $4 a share for every $25 of product U.S. Cellular purchases. The purchase agreement calls for U.S. Cellular to buy a minimum of 100 "Superfilter" systems in the first year and anticipates the company will buy a minimum of 400 such systems from Superconductor Technologies over the next four years. Superconductor Technologies, based in Santa Barbara, Calif., makes technology using cold-temperature conductors that improve the quality of wireless phone calls. U.S. Cellular is a cellular phone-systems company based in Chicago. In an interview with Dow Jones Newswires, Superconductor Technologies President and Chief Executive M. Peter Thomas said the contract is the largest ever for the company. "We believe the industry needed a push to get a broad application going," he said. "This agreement is an indication of that." The "Superfilter" system uses superconducting technology and cryogenic cooling to improve wireless base stations. Thomas said the filter system improves capacity along networks, while decreasing static and "dead spots" in cellular phone coverage areas. U.S. Cellular and other companies have tested the filter systems. "This kind of technology has been in trial for two to three years in this country," Thomas said. "We believe it's going to prove its benefit." The deal, as written, could be worth more than $25 million, depending on several conditions. U.S. Cellular is expected to put the filter systems in cell sites around the country. Thomas said he believes his company can build on this deal. "In this country alone, there are over 60,000 existing cell sites," he said. "The potential is significant for us to take advantage of that market." The warrant agreement is subject to vesting provisions. Superconductor Technologies has 7.7 million outstanding shares, according to its last earnings report. The stock last traded at 5 1/8.