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AMERICAN SUPERCONDUCTOR CLOSES PUBLIC OFFERING; UNDERWRITER EXERCISES OPTION FOR ADDITIONAL 250,500 SHARES

 AMERICAN SUPERCONDUCTOR CLOSES PUBLIC OFFERING;
 UNDERWRITER EXERCISES OPTION FOR ADDITIONAL 250,500 SHARES
 WATERTOWN, Mass., Dec. 19 /PRNewswire/ -- American Superconductor Corporation (NASDAQ: AMSC) today announced the closing of its initial public offering and the exercise of the Underwriter's option to purchase an additional 250,500 shares to cover over-allotments. This brings the total of its shares of common stock sold in the public offering to 1,920,500.
 The firm's underwriter, Invemed Associates Inc., of New York, N.Y., exercised its option to purchase up to 250,500 additional shares of common stock at the public offering price, subject to the same conditions and commissions set forth for 1,670,000 shares sold in the initial public offering.
 In addition, an affiliate of American Superconductor's research partner, Inco Alloys International Inc., exercised purchase warrants for 225,000 shares of Series C Convertible Preferred Stock at the exercise price of $8 per share for a total purchase price of $1.8 million. The purchase was effective on Dec. 11, 1991.
 American Superconductor was organized to develop high temperature superconducting wires and products from those wires, including electromagnetic coils, electromagnets and multistrand conductors, for commercialization. Superconducting wires lose all resistance to the flow of electricity when cooled below a "critical" temperature. Superconducting wires provide significant advantages over conventional wires because superconducting wires conduct electricity with little or no energy loss, and therefore can transmit much larger amounts of electricity than conventional wires of the same size.
 ASC has produced and sold prototype high temperature superconducting electromagnetic coils and multistrand conductors for use in several development and demonstration programs. For example, the firm has sold electromagnetic coils to one manufacturer that is developing superconducting motors for commercial applications.
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 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.
 -0- 12/19/91
 /CONTACT: Gregory J. Yurek of American Superconductor Corp., 617-923-1122, or Jack Jackson or Katherine Leavenworth of Miller Communications, 617-536-0470, for American Superconductor/
 (AMSC) CO: American Superconductor Corp. ST: Massachusetts IN: CPR SU: OFR


SH -- NE002 -- 3713 12/19/91 08:35 EST
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Publication:PR Newswire
Date:Dec 19, 1991
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