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

To: big run who wrote (432)2/28/2000 12:33:00 PM
From: Tom Hua  Read Replies (1) | Respond to of 903
 
big run, the company ran out of working capital, it needed cash infusion, stock was trading at $10-12. Ordinarily a company would do a secondary offering and net about $10/share. But since there's no institutional interest in the company, they had to do another private placement, selling a few million shares on Feb 11 at $3 1/4 per share.

Regards,

Tom



To: big run who wrote (432)2/28/2000 12:38:00 PM
From: shrtslr  Respond to of 903
 
big run, I could be wrong but I believe I read in the Q that there are another 7 million shares of preffered, warrants and options if they were all converted.


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