American Superconductor Corp. of Devens has priced the public offering of 4.6 million shares of its common stock at $35.50 per share.
The high-temperature wire and wind turbine component developer has also granted the transaction’s underwriters a 30-day option to purchase an additional 690,000 shares.
AMSC expects to raise between $155 million and $178 million on the offering. The transaction is being handled by Morgan Stanley & Co. Inc., Deutsche Bank Securities Inc., Jefferies & Co. Inc. and Pacific Crest Securities LLC.
The offering is expected to close Nov. 16.
AMSC reported a $10 million second-quarter profit on revenue of $101.5 million, a 36-percent increase from the prior year.
