American Superconductor (AMSC) Acquires NWL
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AMSC Accelerates toward Profitability with the Acquisition of NWL, Inc.
August 5, 2024 8:00 AM EDTAYER, Mass., Aug. 05, 2024 (GLOBE NEWSWIRE) -- AMSC (Nasdaq: AMSC), a leading system provider of megawatt-scale power resiliency solutions that orchestrate the rhythm and harmony of power on the grid and protect and expand the capability of our Navys fleet, today announced that it has acquired NWL, Inc. (NWL), a private company based in New Jersey that provides power supplies to industrial and military customers. At closing, AMSC paid $25 million in cash and issued 1,297,600 restricted shares of AMSC common stock with a value of approximately $31.4 million. As part of the transaction, AMSC will... More
