Tuesday, November 30, 2004

STI Raises $10.9M

Santa Barbara-based Superconductor Technologies announced this week that it has raised $10.9M in a registered direct offering for its stock. The placement agent for the transaction was Needham and Company. A registered direct offering is similar to a PIPE (private investment in public equity), which has been popular with institutional investors and venture capitalists looking to take positions in companies that went public too early.