SCI Engineered Materials, Inc. Announces Full Redemption of Convertible Preferred Stock, Series B

Nov 29, 2021

COLUMBUS, OH / ACCESSWIRE / November 29, 2021 / SCI Engineered Materials, Inc. ("SCI") (SCIA:OTCQB), today announced the Company will redeem all 24,152 shares of its Convertible Preferred Stock, Series B ("Series B"). The Series B shares were issued through a private placement transaction and there is no public market for the stock. This full redemption includes cash payments of $248,765.60 ($10.30 per share), a 3% premium to the stated value of $10 per share plus unpaid annual dividends of $265,672.00 ($11.00 per share). The total cash cost of this full redemption is $514,437.60. The Series B redemption date is December 31, 2021.

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