AMSC Announces Proposed Public Offering of Common Stock
January 30 2024 - 4:01PM
American Superconductor Corporation (Nasdaq: AMSC), a leading
system provider of megawatt-scale power resiliency solutions that
orchestrate the rhythm and harmony of power on the grid™ and
protect and expand the capability and resiliency of our Navy’s
fleet, today announced that it intends to offer and sell shares of
its common stock in an underwritten public offering. AMSC also
expects to grant the underwriters a 30-day option to purchase
additional shares of common stock offered in the public offering.
The offering is subject to market conditions, and there can be no
assurance as to whether or when the offering may be completed, or
as to the actual size or terms of the offering. AMSC intends to use
the net proceeds from the proposed offering for working capital and
general corporate purposes.
Oppenheimer & Co. Inc. is acting as the sole book-running
manager for the offering. A shelf registration statement relating
to the shares of common stock to be issued in the proposed offering
was filed with the Securities and Exchange Commission (SEC) and is
effective. This press release does not constitute an offer to sell,
or the solicitation of an offer to buy, these securities, nor will
there be any sale of these securities in any state or other
jurisdiction in which such offer, solicitation or sale is not
permitted.
A preliminary prospectus supplement and accompanying prospectus
describing the terms of the proposed offering will be filed with
the SEC. The securities may be offered only by means of a
prospectus, including a prospectus supplement, forming a part of
the effective registration statement. Copies of the preliminary
prospectus supplement and the accompanying prospectus relating to
the securities being offered may also be obtained from Oppenheimer
& Co. Inc. Attention: Syndicate Prospectus Department, 85 Broad
Street, 26th Floor, New York, NY 10004, or by telephone at (212)
667-8563, or by email at EquityProspectus@opco.com. Electronic
copies of the preliminary prospectus supplement and accompanying
prospectus will also be available on the SEC's website at
http://www.sec.gov. The final terms of the offering will be
disclosed in a final prospectus supplement to be filed with the
SEC.
©2024 AMSC. AMSC, American Superconductor, D-VAR, D-VAR
VVO, Gridtec, Marinetec, Windtec, Neeltran, NEPSI, Smarter, Cleaner
… Better Energy, and Orchestrate the Rhythm and Harmony of Power on
the Grid are trademarks or registered trademarks of American
Superconductor Corporation. All other brand names, product names,
trademarks or service marks belong to their respective holders.
Forward-Looking Statements
This press release contains forward-looking statements within
the meaning of Section 21E of the Securities Exchange Act of 1934,
as amended. Such forward-looking statements include, among other
things, statements regarding the completion of the offering and the
intended use of net proceeds therefrom, and other statements
containing the words “intends,” "believes," "anticipates," "plans,"
"expects," "will" and similar expressions. Such forward-looking
statements represent management’s current expectations and are
inherently uncertain. There are a number of important factors that
could materially impact the value of AMSC’s common stock or cause
actual results to differ materially from those indicated by such
forward-looking statements. These important factors include, but
are not limited to: the risk and uncertainties associated with
market conditions and satisfaction of customary closing conditions
related to the public offering, as well as risks and uncertainties
in AMSC’s business, including those risks discussed in the "Risk
Factors" section in the preliminary prospectus supplement related
to the offering and in Part 1. Item 1A of AMSC’s Annual Report on
Form 10-K for the fiscal year ended March 31, 2023 and AMSC’s other
reports filed with the SEC. These important factors, among others,
could cause actual results to differ materially from those
indicated by forward-looking statements made herein and presented
elsewhere by management from time to time. Any such forward-looking
statements represent management's estimates as of the date of this
press release. While AMSC may elect to update such forward-looking
statements at some point in the future, AMSC disclaims any
obligation to do so, even if subsequent events cause its views to
change. These forward-looking statements should not be relied upon
as representing its views as of any date subsequent to the date of
this press release. This caution is made under the safe harbor
provisions of the Private Securities Litigation Reform Act of
1995.
AMSC ContactsInvestor Relations Contact:LHA
Investor RelationsCarolyn Capaccio(212) 838-3777amscIR@lhai.com
AMSC Senior Communications Manager:Nicol GolezPhone:
978-399-8344Nicol.Golez@amsc.com
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