American Superconductor (AMSC): Pricing of Common Stock Offering
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DEVENS, Massachussets - American Superconductor (AMSC), a global solutions provider serving wind and power grid industry, announced that it has priced its underwritten public offering of 4,000,000 shares of its common stock at a public offering price of $4.00 per share. AMSC expects the gross proceeds from this offering to be $16,000,000, before deducting the underwriting discount and other estimated offering expenses. AMSC has granted the underwriters a 30-day option to purchase up to 600,000 additional shares of its common stock. AMSC expects to close the offering, subject to customary conditions, on or about May 10, 2017.
Oppenheimer & Co. Inc. is acting as the sole book-running manager for the offering. Roth Capital Partners is acting as the co-manager for the offering.
The offering of common stock was made pursuant to AMSC’s shelf registration statement filed with the Securities and Exchange Commission (SEC) and declared effective. This press release does not constitute an offer to sell, or the solicitation of an offer to buy, these securities, nor will there be any sale of these securities in any state or other jurisdiction in which such offer, solicitation or sale is not permitted.
A preliminary prospectus supplement describing the terms of the offering has been filed with the SEC and a final prospectus supplement will be filed with the SEC. Copies of the final prospectus supplement and the accompanying prospectus relating to the securities being offered may also be obtained, when available, from Oppenheimer & Co. Inc. Attention: Syndicate Prospectus Department, 85 Broad Street, 26th Floor, New York, NY 10004, or by telephone at (212) 667-8563, or by email at EquityProspectus@opco.com. Electronic copies of the final prospectus supplement and accompanying prospectus will also be available on the SEC's website at http://www.sec.gov
About AMSC (AMSC)
AMSC generates the ideas, technologies and solutions that meet the world's demand for smarter, cleaner … better energy™. Through its Windtec™ Solutions, AMSC provides wind turbine electronic controls and systems, designs and engineering services that reduce the cost of wind energy. Through its Gridtec™ Solutions, AMSC provides the engineering planning services and advanced grid systems that optimize network reliability, efficiency and performance. The Company's solutions are now powering gigawatts of renewable energy globally and are enhancing the performance and reliability of power networks in more than a dozen countries. Founded in 1987, AMSC is headquartered near Boston, Massachusetts with operations in Asia, Australia, Europe and North America. For more information, please visit www.amsc.com