08:42 AM EDT, 08/05/2024 (MT Newswires) -- American Superconductor ( AMSC ) said Monday it has bought NWL, a provider of power supplies for industrial and military applications, for $25 million in cash and restricted shares worth roughly $31.4 million.

The power systems manufacturer said the deal includes an additional $5 million cash payment, subject to certain adjustments.

The acquisition is expected to support American Superconductor's ( AMSC ) military business and its industrial market products, the company said.

Shares of American Superconductor ( AMSC ) were down more than 12% in recent Monday premarket activity.

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