September 1, 2009 (FinancialWire) — Superconductor Technologies Inc. (NASDAQ: SCON) announced The NASDAQ Stock Market accepted on August 28th the company’s compliance plan regarding the previously disclosed NASDAQ staff determination that should have obtained stockholder approval of its June 2009 public offering.

Under the compliance plan, a Superconductor Technologies stockholder has agreed to dispose of approximately 1.1 million shares prior to June 30, 2010 and has granted Superconductor Technologies a proxy to vote those shares (until they are disposed of) on any given matter in the same proportion (for, against and abstaining) as the shares of Superconductor Technologies common stock held by other stockholders are voted on the matter.

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