Austin tech com­pany plans pri­vate of­fer­ing

Austin American-Statesman - - BUSINESS -

Austin-based Su­per­con­duc­tor Tech­nolo­gies Inc. is of­fer­ing 6.25 mil­lion shares of stock priced at 32 cents a share in a pri­vate place­ment be­ing han­dled by Aegis Cap­i­tal Corp.

The com­pany, which moved to Austin from Cal­i­for­nia ear­lier this year, ex­pects to raise $1.8 mil­lion af­ter ex­penses are paid. The place­ment is ex­pected to be com­pleted by Tues­day.

STI de­vel­ops su­per­con­duct­ing wire for use in high­power trans­mis­sion lines, next-gen­er­a­tion wind tur­bines, in­dus­trial mo­tors and other equip­ment. The com­pany pre­vi­ously of­fered 3.8 mil­lion shares of stock in a pri­vate place­ment for which the com­pany re­ceived $1.15 mil­lion.

STI, which says it is in the early stages of com­mer­cial­iz­ing its tech­nol­ogy, re­ported a net loss of $8.7 mil­lion for the nine-month pe­riod ended in Septem­ber and lost $13.4 mil­lion for all of 2011.

STI has a head­quar­ters and a pi­lot pro­duc­tion plant at 9101 Wall St. in North­east Austin, where it em­ploys 17 peo­ple.

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