Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Technology Stocks : American Superconductor (AMSC) -- Ignore unavailable to you. Want to Upgrade?

To: Glenn Petersen who wrote (565)	10/3/2003 8:12:27 PM
From: SemiBull	Read Replies (1) \| Respond to of 973

American Superconductor Announces Pricing of Public Offering of $47,262,500 Of Common Stock Friday October 3, 7:30 am ET # WESTBOROUGH, Mass., Oct. 3 /PRNewswire-FirstCall/ -- American Superconductor Corporation (Nasdaq: AMSC - News) announced today 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 (2G) high temperature superconductor (HTS) wire. Needham & Company, Inc. is acting as the lead managing underwriter for the offering. Co-managers are William Blair & Company and RBC Capital Markets. American Superconductor has also granted the underwriters an option exercisable up until November 7, 2003 to purchase up to an additional 746,250 shares of its common stock at a price of $9.50 per share, solely to cover over-allotments, if any. Note: The offering of common stock may be made only by means of a prospectus. A copy of the prospectus may be obtained from Needham & Company, Inc., 445 Park Avenue, New York, New York 10022; William Blair & Company, 222 West Adams Street, Chicago, Illinois 60606; and RBC Capital Markets, One Liberty Plaza, 165 Broadway, New York, New York 10006. This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state. About American Superconductor Corporation American Superconductor develops solutions and manufactures products to dramatically improve the cost, efficiency and reliability of systems that generate, deliver and use electric power. The company has a vertically integrated portfolio of products supported by hundreds of patents, patent applications and licenses. Products from AMSC include High Temperature Superconductor wire for electric power, transportation, medical and industrial processing applications; HTS motors and generators for ship propulsion; and advanced power electronic systems that ensure the quality and reliability of electricity for residential, commercial and industrial customers. NOTE: American Superconductor is a trademark of American Superconductor Corporation. All other trademarks are the property of their respective owners. Source: American Superconductor Corporation