American Superconductor Corp. (AMSC, Westborough, MA) announced that it has set the price for the public offering of 4,975,000 shares of its common stock at $9.50 per share. The offering is expected to close on October 8, 2003. The net proceeds from the offering will be approximately $44.5 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 pilot manufacturing for second-generation, high-temperature superconductor wire.
