American Superconductor Corporation (Nasdaq: AMSC), a system provider of megawatt-scale power resiliency solutions, has announced that it has priced its underwritten public offering of 3,670,000 shares of its common stock at a public offering price of $15.00 per share. AMSC expects the gross proceeds from this offering to be $55,050,000, before deducting the underwriting discount and other estimated offering expenses. AMSC intends to use the net proceeds from this offering for general corporate and working capital purposes. AMSC has granted the underwriters a 30-day option to purchase up to 550,500 additional shares of its common stock.
Latham & Watkins LLP represents American Superconductor Corporation in the offering with a capital markets team led by partners Peter Handrinos and Wesley Holmes, with associate Emily Henderson.