SUNNYVALE, Calif.-Conductus Inc. said it completed $6.53 million in financing, consisting of $5.03 million in new equity funds, $1 million from a new lease line and $500,000 that was released from a prior leasing agreement.
Conductus issued 1.9 million shares of preferred stock and about 372,000 shares of common stock at $2.70 per share. The preferred shares have a cumulative stock dividend of 6 percent and are convertible into common stock. Investment firms provided most of the equity funding, said Conductus.
