Welcome to our dedicated page for SCON news (Ticker: SCON), a resource for investors and traders seeking the latest updates and insights on SCON stock.
Our selection of high-quality news articles is accompanied by an expert summary from Rhea-AI, detailing the impact and sentiment surrounding the news at the time of release, providing a deeper understanding of how each news could potentially affect SCON's stock performance. The page also features a concise end-of-day stock performance summary, highlighting the actual market reaction to each news event. The list of tags makes it easy to classify and navigate through different types of news, whether you're interested in earnings reports, stock offerings, stock splits, clinical trials, fda approvals, dividends or buybacks.
Designed with both novice traders and seasoned investors in mind, our page aims to simplify the complex world of stock market news. By combining real-time updates, Rhea-AI's analytical insights, and historical stock performance data, we provide a holistic view of SCON's position in the market.
Superconductor Technologies Inc. (OTC-PINK: SCON) will rebrand as Clearday, Inc. following its merger with Allied Integral United, Inc. Key actions include a reverse stock split effective September 9, 2021, aimed to adjust the stock price to $10.00 per share, alongside a True Up Shares special dividend for qualifying shareholders. Stockholders must hold shares until the ex-dividend date of September 21, 2021, to receive the dividend. The merger and related transactions have been approved by stockholders, and the company aims to enhance its position in the market.
Superconductor Technologies Inc. (SCON) announced that its stockholders approved the merger with Clearday during a special meeting on August 10, 2021. This overwhelming support was expressed by CEO Jeffrey A. Quiram, who highlighted the merger's potential to create meaningful value for stockholders. Both companies look forward to finalizing the transaction. STI has a long history of superconducting innovation and aims to leverage this merger for enhanced market opportunities. Further details regarding the merger's impact on financial performance and shareholder value are anticipated.
Superconductor Technologies Inc. (OTCQB: SCON) reported that over 96% of stockholders who voted are in favor of the proposed merger with Clearday, representing more than 48% of outstanding shares. However, more votes are needed to reach the 50% quorum required for approval. The company urges stockholders who have not yet voted to do so before the electronic voting cutoff on August 9, 2021, at 11:59 PM ET. Approval of three specific proposals is critical for the merger’s progression; a failure to vote or abstaining will count as a vote against the merger.
On August 4, 2021, Superconductor Technologies Inc. (STI) announced its merger proposal with Clearday, urging stockholders to vote in favor at a special meeting on August 10, 2021. The merger aims to create a new health care services company and is contingent upon the approval of all related proposals. Non-voting will be treated as a vote against the merger. Stockholders are advised to review the proxy statement for potential consequences if the merger is not approved. The company emphasizes the importance of every vote, regardless of the number of shares owned.
Superconductor Technologies Inc. (OTCQB: SCON) announced a special stockholder meeting scheduled for August 10, 2021, to vote on a merger proposal with Clearday. The Board of Directors strongly recommends stockholders approve the merger, emphasizing it as beneficial for all involved. The management encourages all stockholders to actively participate in the voting process. For a successful merger, all proposals must be approved. Investors are urged to review the filed SEC materials for critical information regarding the transaction.
Superconductor Technologies Inc. (OTCMKTS: SCON) has announced a new record date for its stockholders meeting, set for July 13, 2021, and a proxy vote deadline on August 10, 2021. These changes accommodate the influx of new stockholders since the original record date of June 4, 2021, allowing broader participation in the upcoming merger vote with Clearday. After the merger, current STI stockholders are expected to hold approximately 46% of their pre-merger shares. The company emphasizes its goal of accurately reflecting the overall stockholder base's desires.
Superconductor Technologies Inc. (STI) announces a definitive merger with Allied Integral United, Inc. (Clearday), focusing on next-generation longevity care services. The merger will replace the prior agreement from March 2020. Upon completion, STI will rebrand as Clearday, Inc., prioritizing in-home care services like Clearday at Home™ and Clearday Clubs™. The merger is on track to close by Q3 2021, pending stockholder approvals, and STI shareholders will retain approximately 3.6% of the combined company. No additional financing is required.
Superconductor Technologies Inc. (STI) will implement a 1-for-10 reverse stock split on September 10, 2020, to comply with Nasdaq's minimum bid price requirement of $1.00 per share. This decision was approved by the Board of Directors and stockholders on September 9, 2020. Following the split, the number of outstanding shares will decrease from approximately 31.5 million to 3.15 million. Although the share price is expected to increase proportionately, there are risks involved, including the possibility of remaining non-compliant with Nasdaq standards.
Superconductor Technologies Inc. (STI) has announced the adjournment of its Annual Meeting of Stockholders to September 9, 2020, to allow more time for votes on critical proposals. Notably, Proposal 3, concerning a Reverse Stock Split, requires an additional 1.5% of outstanding shares to pass, aimed at elevating the stock price above Nasdaq's $1.00 minimum bid requirement, which STI currently does not meet. The Board of Directors recommends voting in favor of this proposal to avoid delisting. Stockholders are urged to participate in this important decision.
Superconductor Technologies Inc. (Nasdaq: SCON) completed a Securities Purchase Agreement on July 6, 2020, issuing 4 million shares at $0.40 each, in exchange for a preferred equity interest valued at $1.6 million. The company is merging with Clearday, Inc. and expects to meet Nasdaq's Equity Rule requirements post-transaction. Additionally, the merger has faced delays due to Clearday's audit. The company has a preferred interest in a commercial property in Texas, which will support future business operations.
