AMERICAN SUPERCONDUCTOR CORP /DE/ (AMSC): M&A transaction — AMSC acquires Megatran Industries for $61.35M in cash and stock

AMERICAN SUPERCONDUCTOR CORP /DE/

Total consideration $61.35M: $25M cash (adjusted), $31.35M in AMSC restricted shares, plus $5M additional cash.
Megatran preliminary 2023 net sales $72.3M, net income $8.1M; H1 2024 net sales $38.3M, net income $4.9M.
Acquisition closed Aug 1, 2024; Megatran is a New Jersey corporation.
AMSC shares issued based on Nasdaq closing price day before closing; registration and orderly distribution provisions apply.
Deal expands AMSC's electrical infrastructure product line.

Key facts

Extracted from this filing and checked against the source text.

M&A Transactions SEC 8-K Item 2.01/5.01 confidence 0.95

AMERICAN SUPERCONDUCTOR CORP /DE/ completed an acquisition involving Megatran Industries, Inc for $61,350,000 aggregate consideration consisting of (a) Cash Purchase Price (approximately $25,000,000 minus indebtedness and expenses), (b) restricted shares of (closed 2024-08-01).

Action: acquisition
Counterparty: Megatran Industries, Inc
Consideration: $61,350,000 aggregate consideration consisting of (a) Cash Purchase Price (approximately $25,000,000 minus indebtedness and expenses), (b) restricted shares of
Closing: 2024-08-01

Exact text from the filing

the Company purchased all of the issued and outstanding shares of Megatran (collectively, the “ Acquired Interests ”) for aggregate consideration in an amount equal to $61,350,000 (the “ Purchase Price ”), which consideration amount shall be subject to various adjustments set forth in the Stock Purchase Agreement (including those described below) and

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Source: SEC EDGAR

accession 0001193125-24-193425

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