American Superconductor Corporation (NASDAQ:AMSC) Files An 8-K Other Events
Item8.01
| Other Events |
On May5, 2017, American Superconductor Corporation (the Company
or AMSC) announced that it had entered into an underwriting
agreement with Oppenheimer Co. Inc., as representative of the
several underwriters named therein (collectively, the
Underwriters), relating to the issuance and sale (the Offering)
of 4,000,000 shares of the Companys common stock, par value $0.01
per share (Common Stock). The price in the Offering was $4.00 per
share of Common Stock.
On May24, 2017, the Underwriters notified the Company that they
had exercised in full their option to purchase an additional
600,000 shares of Common Stock (the Option) in connection with
the Offering. The exercise of the option to purchase additional
shares brings the total number of shares of Common Stock sold by
the Company to 4,600,000 and the total net proceeds to the
Company from the Offering are expected to be approximately
$17.0million, after deducting underwriting discounts and
commissions and estimated offering expenses payable by the
Company. The Option closed on May26, 2017.
Item9.01. Financial Statements and Exhibits.
(d) Exhibits:
|
Exhibit No. |
Description |
|
| 5.1 | Opinion of Latham Watkins LLP | |
| 23.1 | Consent of Latham Watkins LLP (included in Exhibit 5.1) |
About American Superconductor Corporation (NASDAQ:AMSC)
American Superconductor Corporation (AMSC) is a provider of megawatt-scale solutions. The Company operates through two segments: Wind and Grid. Through the Company’s Windtec Solutions brand, the Wind business segment enables manufacturers to field wind turbines. Through the Company’s Gridtec Solutions, the Grid business segment enables electric utilities and renewable energy project developers to connect, transmit and distribute power. AMSC supplies power electronics and control systems, licenses its engineered wind turbine designs and provides customer support services to wind turbine manufacturers. The Company provides a range of power electronics and software-based control systems. AMSC provides transmission planning services that enable it to identify power grid congestion and other risks. The Company also sells grid interconnection solutions for wind farms and solar power plants, power quality systems, and transmission and distribution cable systems. American Superconductor Corporation (NASDAQ:AMSC) Recent Trading Information
American Superconductor Corporation (NASDAQ:AMSC) closed its last trading session down -0.08 at 4.21 with 243,475 shares trading hands.