10:15 AM EDT, 06/11/2025 (MT Newswires) -- American Superconductor ( AMSC ) said Wednesday that it priced a $115.5 million underwritten public offering of shares.

The offering includes 4.1 million shares at $28 a share, according to the company. Underwriters in the offering will have a 30-day option to buy up to 618,750 shares.

The company expects to close the offering on or about Thursday.

Net proceeds from the offering will be used for working capital and general corporate purposes, including acquisitions, American Superconductor ( AMSC ) added.

Shares of the company were down over 17% in recent trading.

Price: 28.69, Change: -5.76, Percent Change: -16.72