Superconductor Technologies: Set for near five-month high on merger agreement

Clearday

03/03/2020 14:16

** Commercial superconducting wire maker's  SCON.O  shares
surge 80.2% to 35 cents premarket 
    ** Company announces merger deal with a privately held firm 
    ** SCON to open at highest level since early October, if
gains hold 
    ** SCON among top percentage gainers among shares trading
before the bell, across U.S. exchanges   
    ** Company says it will merge with wellness services firm
Allied Integral United in a stock-for-stock transaction
 urn:newsml:reuters.com:*:nGNX7V5Dq2
    ** New company to be named Clearday 
    ** Pre-merger stockholders of superconductor technologies
will own about 3.7% of new co; no financing is required under
the agreement 
     ** SCON shares up 7.71% YTD

 (Reporting by Shivani Kumaresan)
 ((Shivani.Kumaresan@thomsonreuters.com;))