American Superconductor Announces Public Offering of Common Stock
DEVENS, Mass., Nov 08, 2010 (BUSINESS WIRE) --
American Superconductor Corporation (NASDAQ: AMSC), a global power technologies company, today announced that it has commenced an underwritten registered public offering of 4.6 million shares of its common stock. AMSC intends to grant the underwriters an option to purchase up to an additional 15% percent of the shares sold to cover over-allotments, if any. Morgan Stanley & Co. Incorporated, Deutsche Bank Securities Inc. and Jefferies & Company, Inc. are acting as lead book-running managers for the offering. Pacific Crest Securities LLC will serve as co-manager.
The shares will be issued pursuant to a prospectus supplement filed as part of a shelf registration statement filed with the Securities and Exchange Commission on Form S-3. AMSC intends to use the net proceeds of this offering to expand its superconductor wire manufacturing capacity, to pursue strategic business relationships for the purpose of executing its growth and diversification strategies, including minority investments and acquisitions, and for other general corporate purposes.
This press release shall not constitute an offer to sell or the solicitation of an offer to buy any securities, nor shall there be any offer or sale of these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of such jurisdiction. The offering of these securities may be made only by means of the prospectus and related prospectus supplement relating to the offering. Investors will be able to obtain a copy of such documents from Morgan Stanley & Co. Incorporated, Attn: Prospectus Department, 180 Varick Street, 2nd Floor, New York, New York 10014, telephone: (866) 718-1649 , or by emailing prospectus@morganstanley.com; Deutsche Bank Securities Inc., Prospectus Department, Harborside Financial Center, 100 Plaza One, Jersey City, N.J. 07311-3988, telephone: (800) 503-4611 or by emailing prospectus.cpdg@db.com; or Jefferies & Company, Inc., Equity Syndicate Prospectus Department, 520 Madison Avenue, 12th Floor, New York, NY 10022, telephone: (877) 547-6340 or by emailing Prospectus_Department@Jefferies.com.
This press release contains forward-looking statements of future expectations. Actual results might differ materially from those projected because of factors such as those indentified in reports the company has filed with the Securities and Exchange Commission.
SOURCE: American Superconductor Corporation
American Superconductor Corporation Jason Fredette, 978-842-3177 Managing Director, Corporate Communications jfredette@amsc.com
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