Superconductor Technologies and Allied Integral United, Inc. (“Clearday”) Announce Merger Agreement
SUPERCONDUCTOR TECHS INC (SCON)
Last superconductor techs inc earnings: 11/12 06:30 am
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Source: GlobeNewswire
AUSTIN, Texas, March 03, 2020 (GLOBE NEWSWIRE) -- Superconductor Technologies Inc. (STI) (Nasdaq: SCON), a leader in superconducting innovation, reported it entered into a definitive merger agreement with Allied Integral United, Inc. (“Clearday”), a privately-held company dedicated to delivering next generation longevity care and wellness services, whereby a wholly-owned subsidiary of STI will merge with and into Clearday in a stock-for-stock transaction with Clearday. Upon completion of the merger, STI will change its name to Clearday, Inc. The merged company will focus on the development of Clearday’s non-residential daily care service model as well as the continued operation of Clearday’s existing Memory Care America residential memory care facilities. As part of plans to develop and expand its assortment of innovative, non-residential daily care services, Clearday intends to leverage STI’s existing Cryogenic Cooler as an enabling technology for one of its service offerings in t
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