{"schema_version":"secwatch.filing_event.v1","accession":"0001193125-25-314153","form_type":"8-K","ticker":"AMSC","cik":"0000880807","company_name":"AMERICAN SUPERCONDUCTOR CORP /DE/","filed_at":"2025-12-10T23:59:59+00:00","discovered_at":"2026-05-14T18:02:42.449519+00:00","generated_at":"2026-05-16T13:43:24.478205+00:00","sec_items":["1.01","2.01","3.02","8.01","9.01"],"event_type":"m_and_a","sentiment":"positive","materiality_score":0.85,"calibrated_materiality_score":0.85,"confidence":"high","headline":"AMSC buys Comtrafo for BRL 300M cash, 2.4M shares, plus earnout up to BRL 382.5M","bullets":["Deal consideration: BRL 300M cash (Cash Component), 2,417,142 AMSC restricted shares, plus BRL 155.6M for real estate and BRL 13.4M for transportation assets.","Earnout of up to BRL 382.5M contingent on Comtrafo achieving specified EBITDA targets over three years post-closing.","Comtrafo's 2024 revenue ~$50M, gross margin ~30%, operating margin ~20%; backlog ~$85M total, ~$55M in 12-month backlog.","Comtrafo employs ~580 people and operates ~350,000 sq ft of manufacturing space in Cornélio Procópio, Brazil.","AMSC obligated to file resale registration statement for the AMSC Shares within 20 business days or face cash alternative of BRL 450M plus interest."],"urls":{"canonical":"https://secwatch.observer/filing/0001193125-25-314153","json":"https://secwatch.observer/filing/0001193125-25-314153.json","markdown":"https://secwatch.observer/filing/0001193125-25-314153.md","text":"https://secwatch.observer/filing/0001193125-25-314153.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/880807/000119312525314153/0001193125-25-314153-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/880807/000119312525314153/d24846d8k.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-05-16T13:43:24.478205+00:00"},"review":{"review_status":"machine_generated","human_reviewed":false,"corrected":false,"correction_note":null,"correction_timestamp":null,"superseded_by":null,"related_filings":[]},"source_grounded_claims":[{"claim_id":"6969e38d5512eb385e112c72df9790348341838a","claim":"AMERICAN SUPERCONDUCTOR CORP /DE/ completed an acquisition involving Stockholders of Comtrafo Indústria de Transformadores Elétricos S.A. for 300,000,000 Brazilian Real in cash; and 2,417,142 restricted shares of the Company’s common stock (closed 2025-12-05).","evidence_excerpt":"Stock Exchange Agreement, AMSC Brazil, directly or indirectly, purchased all of the issued and outstanding shares of Comtrafo (collectively, the “ Target Interests ”) for (a) (i) 300,000,000 Brazilian Real in cash; and (b) 2,417,142 restricted shares of the Company’s common stock, $0.01 par value per share (the “ AMSC Shares ”) that were paid and issued, respectively,","evidence_source":"SEC 8-K Item 2.01/5.01","evidence_url":"https://www.sec.gov/Archives/edgar/data/880807/000119312525314153/0001193125-25-314153-index.htm","confidence":0.9,"family_label":"M&A Transactions","details":[{"label":"Action","value":"acquisition"},{"label":"Counterparty","value":"Stockholders of Comtrafo Indústria de Transformadores Elétricos S.A."},{"label":"Consideration","value":"300,000,000 Brazilian Real in cash; and 2,417,142 restricted shares of the Company’s common stock"},{"label":"Closing","value":"2025-12-05"}],"fact_type":"ma_transaction"},{"claim_id":"53773421e2f7dadb86a3a933acda7bae6e5d98cf","claim":"AMERICAN SUPERCONDUCTOR CORP /DE/ entered into Stock Exchange Agreement with the Stockholders (sellers) and Comtrafo Indústria de Transformadores Elétricos S.A. valued at 300,000,000 Brazilian Real in cash and 2,417,142 restricted shares (effective 2025-12-05).","evidence_excerpt":"On December 5, 2025 (the “ Closing Date ”), Mardin Participações Ltda., an entity incorporated in Brazil (“ AMSC Brazil ”) and a wholly-owned subsidiary of American Superconductor Corporation, a Delaware corporation (the “ Company ”), entered into a Stock Exchange Agreement (the “ Stock Exchange Agreement ”) with each of the sellers listed on the signature pages thereto (each, a “ Stockholder ” and collectively, the “ Stockholders ”), Comtrafo Indústria de Transformadores Elétricos S.A., an entity incorporated in Brazil (“ Comtrafo ”), Irineu Minato, an individual, solely in his capacity as the stockholder representative thereunder (the “ Stockholder Representative ”), the stockholder group members listed on Schedule I thereto (each, a “ Stockholder Group Member ” and collectively, the “ Stockholder Group Members ”), and the Company solely for purposes of Section 1.1(a), Article IV, Section 5.5 and Section 5.7 of the Stock Exchange Agreement. Additionally on the Closing Date, pursuant","evidence_source":"SEC 8-K Item 1.01/1.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/880807/000119312525314153/0001193125-25-314153-index.htm","confidence":0.9,"family_label":"Material Agreements","details":[{"label":"Action","value":"entry"},{"label":"Agreement","value":"equity purchase"},{"label":"Counterparty","value":"the Stockholders (sellers) and Comtrafo Indústria de Transformadores Elétricos S.A."},{"label":"Value","value":"300,000,000 Brazilian Real in cash and 2,417,142 restricted shares"},{"label":"Effective","value":"2025-12-05"}],"fact_type":"material_agreement"},{"claim_id":"bc29cd01e906a3da381e3a04407191fb8ef56dc0","claim":"AMERICAN SUPERCONDUCTOR CORP /DE/ entered into Real Property Agreements valued at 155,564,538 Brazilian Real and 13,376,676 Brazilian Real (effective 2025-12-05).","evidence_excerpt":"In addition, pursuant to the Real Property Agreements, AMSC Brazil through Comtrafo purchased certain real estate assets and transportation assets of Comtrafo for 155,564,538 Brazilian Real and 13,376,676 Brazilian Real, respectively, in cash.","evidence_source":"SEC 8-K Item 1.01/1.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/880807/000119312525314153/0001193125-25-314153-index.htm","confidence":0.9,"family_label":"Material Agreements","details":[{"label":"Action","value":"entry"},{"label":"Agreement","value":"asset purchase"},{"label":"Value","value":"155,564,538 Brazilian Real and 13,376,676 Brazilian Real"},{"label":"Effective","value":"2025-12-05"}],"fact_type":"material_agreement"}],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}