American Superconductor (AMSC) has released an update.
American Superconductor Corporation entered into an underwriting agreement with Oppenheimer & Co. Inc. for the sale of 5.4 million shares of common stock at $11.25 per share, aiming to raise approximately $56.6 million for working capital and general corporate purposes. The offering, expected to close around February 2, 2024, includes a 30-day option for underwriters to purchase up to an additional 810,000 shares. The sale is based on the Company’s effective shelf registration statement and includes standard closing conditions, indemnifications, and termination provisions.
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For a comprehensive understanding of the announcement, you can read the full document here.
