In an effort to retain footing in the wireless filter world, Illinois Superconductor Corp. (ISC) engaged Mesirow Financial to explore its strategic alternatives. The $15 million market cap company faced a possible delisting by NASDAQ and the dilution of its common shares by 132% from the conversion of senior notes and warrants, according to a recent S3 filed with the Securities and Exchange Commission. ISC registered 18 million shares for sale by holders of the convertibles late last month.
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