Current Report Filing (8-k)
August 31 2015 - 8:16AM
Edgar (US Regulatory)
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant
to Section 13 or 15(d)
of The Securities Exchange Act of 1934
Date of Report (Date of earliest event reported):
August 26, 2015
American
Superconductor Corporation
(Exact name of registrant as specified in its charter)
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Delaware |
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0-19672 |
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04-2959321 |
(State or other jurisdiction
of incorporation) |
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(Commission
File Number) |
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(IRS Employer
Identification No.) |
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64 Jackson Road
Devens, Massachusetts |
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01434 |
(Address of principal executive offices) |
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(Zip Code) |
Registrants telephone number, including area code (978) 842-3000
Not Applicable
(Former
name or former address, if changed since last report.)
Check the appropriate box below
if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):
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Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
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Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
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Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
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Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
Item 1.01. |
Entry into a Material Definitive Agreement. |
Amendments to Supply Contracts with Inox
Wind Limited Dated June 2, 2014 and August 15, 2014
As previously disclosed on Current Reports on Form 8-K filed with
Securities and Exchange Commission (the SEC) on June 5, 2014 and August 21, 2014, American Superconductor Corporation (the Company) entered into Supply Contracts dated June 2, 2014 (the
June 2014 Supply Contract) and August 15, 2014 (the August 2014 Supply Contract), respectively, with Inox Wind Limited (Inox) for Inoxs purchase of electrical control systems from
the Company.
On August 26, 2015, the Company entered into amendments to the June 2014 Supply Contract and the August 2014 Supply
Contract, pursuant to which Inox has agreed to purchase additional electrical control systems from the Company having an aggregate value of approximately $30 million and $11 million, respectively. The Company expects that, under the June 2014 Supply
Contract, as amended, and the August 2014 Supply Contract, as amended, (i) shipments will begin in the second quarter of fiscal 2015, (ii) a vast majority of shipments will be completed by the end of fiscal 2015, and (iii) shipments
will be completed in the first quarter of fiscal 2016.
Forward-Looking Statements
Statements in this report that are not strictly historical in nature constitute forward-looking statements within the meaning of the Private
Securities Litigation Reform Act of 1995. Such statements include, but are not limited to, statements regarding the Companys expectations as to when shipments will begin, a vast majority of shipments will be completed and shipments will be
completed under the June 2014 Supply Contract, as amended, and the August 2014 Supply Contract, as amended. Such forward-looking statements represent managements current expectations and are inherently uncertain. Actual results may differ
materially from what management currently expects because of many risks and uncertainties, including the risk that the Company will not be able to manufacture products in accordance with current expectations. This and the important factors discussed
in the Risk Factors section of the Companys Annual Report on Form 10-K for the fiscal year ended March 31, 2015, among others, could cause actual results to differ materially from those indicated by forward-looking statements
made herein and presented elsewhere by management from time to time. In addition, any forward-looking statements included in this report represent the Companys expectations as of the date of this report. While the Company anticipates that
subsequent events and developments may cause the Companys views to change, the Company specifically disclaims any obligation to update these forward-looking statements. These forward-looking statements should not be relied upon as representing
the Companys views as of any date subsequent to the date of this report.
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by
the undersigned hereunto duly authorized.
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AMERICAN SUPERCONDUCTOR CORPORATION |
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Date: August 31, 2015 |
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By: |
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/s/ David A. Henry |
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David A. Henry |
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Executive Vice President and Chief Financial Officer |
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