By Dean Seal
Shares of American Superconductor dropped after the company said it would launch an underwritten public offering.
The stock was down 12% at $30.20 in postmarket trading. When the market closed Tuesday, shares had gained 40% since the start of the year.
The developer of power systems said after the closing bell that it intends to offer and sell an undisclosed number of shares and grant underwriters a 30-day option to buy additional stock.
Final terms of the offering will be disclosed in a subsequent document, the company said.
Proceeds will be used for working capital and general corporate purposes, including potential strategic acquisitions.
Write to Dean Seal at dean.seal@wsj.com
(END) Dow Jones Newswires
June 10, 2025 17:21 ET (21:21 GMT)
Copyright (c) 2025 Dow Jones & Company, Inc.
免責聲明：投資有風險，本文並非投資建議，以上內容不應被視為任何金融產品的購買或出售要約、建議或邀請，作者或其他用戶的任何相關討論、評論或帖子也不應被視為此類內容。本文僅供一般參考，不考慮您的個人投資目標、財務狀況或需求。TTM對信息的準確性和完整性不承擔任何責任或保證，投資者應自行研究並在投資前尋求專業建議。