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AYER, Mass. - American Superconductor Corporation (NASDAQ:AMSC) has priced its underwritten public offering of 4,125,000 shares of common stock at $28.00 per share, according to a press release statement issued Wednesday. The offering comes as AMSC’s stock has shown remarkable strength, delivering a 57% return over the past year and currently trading near $34.45.
The power resiliency solutions provider expects to generate gross proceeds of $115.5 million from the offering, before deducting underwriting discounts, commissions, and other estimated expenses. The company plans to use the net proceeds for working capital, general corporate purposes, and potential strategic acquisitions. According to InvestingPro data, AMSC maintains a strong balance sheet with more cash than debt and a healthy current ratio of 2.07, suggesting solid liquidity to support its growth initiatives.
AMSC has granted the underwriters a 30-day option to purchase up to an additional 618,750 shares at the same public offering price, less underwriting discounts and commissions. The offering is expected to close on or about June 12, 2025, subject to customary conditions.
Oppenheimer & Co. Inc. is serving as the sole book-running manager for the offering, with Craig-Hallum Capital Group LLC acting as lead manager and Roth Capital Partners as co-manager.
The offering is being made pursuant to an effective shelf registration statement filed with the Securities and Exchange Commission. A preliminary prospectus supplement and accompanying prospectus describing the offering terms have been filed with the SEC, with a final prospectus supplement to follow.
American Superconductor Corporation provides megawatt-scale power resiliency solutions for the electrical grid and naval fleet applications. The company has demonstrated strong operational performance, with revenue growing 53% in the last twelve months to $223 million. InvestingPro analysis reveals 20+ additional key insights about AMSC’s financial health and market position, available through the comprehensive Pro Research Report.
In other recent news, American Superconductor Corporation (AMSC) reported its fourth-quarter fiscal year 2024 earnings, exceeding analyst expectations with an EPS of $0.12, compared to the forecasted $0.08. Despite this earnings success, the company’s revenue fell short of projections, coming in at $55.59 million against the anticipated $59.17 million. AMSC’s total revenue for the quarter increased by 59% year-over-year, reaching $66.7 million, with the Grid Business contributing 84% of this revenue. For the full fiscal year 2024, AMSC achieved revenue of $222.8 million, marking a 53% increase from the previous year. In other developments, AMSC announced a public offering of its common stock, with Oppenheimer & Co. Inc. serving as the sole book-running manager. The company plans to use the proceeds for working capital, corporate purposes, and potential acquisitions. Additionally, AMSC’s strategic initiatives have garnered attention, with analysts from firms like Oppenheimer noting the company’s focus on expanding its product portfolio and market presence. These recent developments underscore AMSC’s ongoing efforts to strengthen its financial position and market reach.
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