Prospectus excerpt:  This is a firm commitment public offering (this “Offering”) by Mechanical Technology, Incorporated (the “Company”, “MTI”, “we”, “us” or “our”) of 720,000 shares of our 9.0% Series A Cumulative Perpetual Preferred Stock, par value $0.001 per share, with a $25.00 liquidation preference per share (the “Series A Preferred Stock”), pursuant to this prospectus, at a public offering price of $25.00 per share. A description of the determination of the public offering price is included in “Underwriting—Pricing of the Offering.” Dividends on the Series A Preferred Stock, when, as and if declared by our board of directors (the “Board”) or any duly authorized committee of the Board, will be payable on the liquidation preference amount, on a cumulative basis, monthly in arrears on the final day of each month, beginning on August 31, 2021, each of which we refer to as a “dividend payment date”; provided that if any dividend payment date is not a business day, as defined in the certificate of designation with respect to the Series A Preferred Stock, then such date will nevertheless be a dividend payment date but the dividend which would otherwise have been payable on that dividend payment date, when, as and if declared, will be paid on the next succeeding business day and no interest, additional dividends or other sums will accumulate on the amounts so payable for the period from and after that dividend payment date to the next succeeding business day. The first dividend on the Series A Preferred Stock, when, as and if declared, will be paid on August 31, 2021, which will be for less than a full month after the initial issuance of the Series A Preferred Stock and will cover the period from the first date we issue and sell the Series A Preferred Stock through, but not including, August 31, 2021. Subject to the preferential rights, if any, of the holders of any class or series of our capital stock ranking senior to the Series A Preferred Stock as to the dividends (of which none exist at this time), holders of Series A Preferred Stock will be entitled to receive, when and as declared by the Board or any duly authorized committee of the Board, only out of funds legally available for the payment of dividends, cumulative cash dividends at the annual rate of 9.0% of the $25.00 liquidation preference per year (equivalent to $2.25 per year).