American Superconductor Announces Offering of Shares

January 27, 2000 by Jeff Shepard

American Superconductor Corp. (Westborough, MA) announced that it has filed a registration statement with the Securities and Exchange Commission to make an offering of shares of its common stock expected to generate net proceeds to the company of approximately $75.0 million.According to the company, proceeds from the offering will be used for a new plant for manufacturing high temperature superconductor (HTS) wire; for a new superconducting magnetic energy systems (SMES) manufacturing facility; and for costs associated with the design, development and commercialization of HTS motors and generators.