AYER, Mass., Oct. 22, 2020 (GLOBE NEWSWIRE) -- American Superconductor Corporation (Nasdaq: AMSC), a leading system provider of megawatt-scale power resiliency solutions, announced today that it has priced its underwritten public offering of 3,670,000 shares of its common stock at a public offering price of $15.00 per share. AMSC expects the gross proceeds from this offering to be $55,050,000, before deducting the underwriting discount and other estimated offering expenses. AMSC intends to use the net proceeds from this offering for general corporate and working capital purposes. AMSC has granted the underwriters a 30-day option to purchase up to 550,500 additional shares of its common stock. AMSC expects to close the offering, subject to customary conditions, on or about October 26, 2020.

Oppenheimer & Co. Inc. is acting as the sole book-running manager for the offering. Craig-Hallum Capital Group LLC and Roth Capital Partners, LLC are acting as the co-managers 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.