American Superconductor Corp. (AMSC, Westborough, MA) announced that it has set the price for the public offering of 4,000,000 shares of its common stock at $10.50 per share. The offering is expected to close on March 1, 2005.
Proceeds from the offering, net of the underwriting discounts, will be approximately $39.6 million. American Superconductor intends to use the net proceeds of the offering primarily for working capital and for general corporate purposes, including the scale-up of manufacturing for second-generation, high-temperature superconductor wire.
