AMSC prices 5.4M shares at $11.25 in underwritten public offering

American Superconductor has priced its underwritten public offering of 5,400,000 shares of its common stock at a public offering price of $11.25 per share. AMSC expects the gross proceeds from this offering to be $60,750,000, before deducting the underwriting discount and other estimated offering expenses. AMSC intends to use the net proceeds from this offering for working capital and general corporate purposes. AMSC has granted the underwriters a 30-day option to purchase up to 810,000 additional shares of its common stock. AMSC expects to close the offering, subject to customary conditions, on or about February 2, 2024. Oppenheimer & Co. Inc. is acting as the sole book-running manager for the offering. Craig-Hallum Capital Group LLC and Roth Capital Partners, LLC are acting as co-managers for the offering.