<SEC-DOCUMENT>0000950123-11-058656.txt : 20110613
<SEC-HEADER>0000950123-11-058656.hdr.sgml : 20110613
<ACCEPTANCE-DATETIME>20110613161521
ACCESSION NUMBER:		0000950123-11-058656
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		3
CONFORMED PERIOD OF REPORT:	20110607
ITEM INFORMATION:		Entry into a Material Definitive Agreement
ITEM INFORMATION:		Financial Statements and Exhibits
FILED AS OF DATE:		20110613
DATE AS OF CHANGE:		20110613

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			AMERICAN SUPERCONDUCTOR CORP /DE/
		CENTRAL INDEX KEY:			0000880807
		STANDARD INDUSTRIAL CLASSIFICATION:	MOTORS & GENERATORS [3621]
		IRS NUMBER:				042959321
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			0331

	FILING VALUES:
		FORM TYPE:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	000-19672
		FILM NUMBER:		11908348

	BUSINESS ADDRESS:	
		STREET 1:		SIXTY FOUR JACKSON ROAD
		CITY:			DEVENS
		STATE:			MA
		ZIP:			01434
		BUSINESS PHONE:		9788423000

	MAIL ADDRESS:	
		STREET 1:		SIXTY FOUR JACKSON ROAD
		CITY:			DEVENS
		STATE:			MA
		ZIP:			01434
</SEC-HEADER>
<DOCUMENT>
<TYPE>8-K
<SEQUENCE>1
<FILENAME>b86933e8vk.htm
<DESCRIPTION>FORM 8-K
<TEXT>
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<TITLE>e8vk</TITLE>
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<DIV style="width: 100%; border-bottom: 2pt solid black; font-size: 1pt">&nbsp;</DIV>
<DIV style="width: 100%; border-bottom: 1pt solid black; font-size: 1pt">&nbsp;</DIV>








<DIV align="center" style="font-size: 14pt; margin-top: 12pt"><B>UNITED STATES<BR>
SECURITIES AND EXCHANGE COMMISSION</B>
</DIV>

<DIV align="center" style="font-size: 12pt"><B>Washington, D.C. 20549</B>
</DIV>

<DIV align="center" style="font-size: 18pt; margin-top: 12pt"><B>FORM 8-K</B>
</DIV>


<DIV align="center" style="font-size: 12pt; margin-top: 12pt"><B>CURRENT REPORT</B>
</DIV>


<DIV align="center" style="font-size: 12pt; margin-top: 12pt"><B>Pursuant to Section&nbsp;13 or 15(d) of<BR>
The Securities Exchange Act of 1934</B>
</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 12pt"><B>Date of Report (Date of earliest event reported): June&nbsp;7, 2011</B>
</DIV>

<DIV align="center" style="font-size: 24pt; margin-top: 12pt"><B>American Superconductor Corporation</B>
</DIV>

<DIV align="center" style="font-size: 10pt">
(Exact name of registrant as specified in its charter)</DIV>


<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
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    <TD width="30%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="30%">&nbsp;</TD>
</TR>
<TR></TR>
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<TR valign="bottom">
    <TD align="center" valign="top"><B>Delaware</B>
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top"><B>0-19672</B>
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top"><B>04-2959321</B></TD>
</TR>
<TR style="font-size: 1px">
    <TD colspan="5" valign="top" align="left" style="border-top: 1px solid #000000">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD align="center" valign="top">(State or other jurisdiction <BR>
of incorporation)
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">(Commission<BR>
File Number)
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">(IRS Employer<BR>
Identification No.)</TD>
</TR>
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</TABLE>
</DIV>

<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="47%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="47%">&nbsp;</TD>
</TR>
<TR></TR>
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<TR valign="bottom">
    <TD align="center" valign="top">64 Jackson Road <BR>
Devens, Massachusetts
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">01434</TD>
</TR>
<TR style="font-size: 1px">
    <TD align="center" valign="top" style="border-top: 1px solid #000000">&nbsp;
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top" style="border-top: 1px solid #000000">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD align="center" valign="top">(Address of principal executive offices)
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">(Zip Code)</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 12pt">
Registrant&#146;s telephone number, including area code <B>(978)&nbsp;842-3000</B></DIV>


<DIV align="center" style="font-size: 10pt; margin-top: 12pt">
Not Applicable<BR>

(Former name or former address, if changed since last report.)</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">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):</DIV>

<DIV align="left" style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt; background: transparent; color: #000000">
<TR>
    <TD width="3%"></TD>
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    <TD></TD>
</TR>

<TR>
    <TD valign="top"><FONT style="font-family: Wingdings">&#111;</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>Written communications pursuant to Rule&nbsp;425 under the Securities Act (17 CFR 230.425)
</TD>
</TR>
</TABLE>
</DIV>

<DIV align="left" style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt; background: transparent; color: #000000">
<TR>
    <TD width="3%"></TD>
    <TD width="1%"></TD>
    <TD></TD>
</TR>

<TR>
    <TD valign="top"><FONT style="font-family: Wingdings">&#111;</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>Soliciting material pursuant to Rule&nbsp;14a-12 under the Exchange Act (17 CFR 240.14a-12)
</TD>
</TR>
</TABLE>
</DIV>

<DIV align="left" style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt; background: transparent; color: #000000">
<TR>
    <TD width="3%"></TD>
    <TD width="1%"></TD>
    <TD></TD>
</TR>

<TR>
    <TD valign="top"><FONT style="font-family: Wingdings">&#111;</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>Pre-commencement communications pursuant to Rule&nbsp;14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
</TD>
</TR>
</TABLE>
</DIV>

<DIV align="left" style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt; background: transparent; color: #000000">
<TR>
    <TD width="3%"></TD>
    <TD width="1%"></TD>
    <TD></TD>
</TR>

<TR>
    <TD valign="top"><FONT style="font-family: Wingdings">&#111;</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>Pre-commencement communications pursuant to Rule&nbsp;13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
</TD>
</TR>
</TABLE>
</DIV>


<DIV style="width: 100%; border-bottom: 1pt solid black; margin-top: 10pt; font-size: 1pt">&nbsp;</DIV>
<DIV style="width: 100%; border-bottom: 2pt solid black; font-size: 1pt">&nbsp;</DIV>







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<DIV style="font-family: 'Times New Roman',Times,serif">






<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>Item&nbsp;1.01. Entry into a Material Definitive Agreement.</B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">On March&nbsp;12, 2011, American Superconductor Corporation (the &#147;Company&#148;) entered into a definitive
agreement (the &#147;SPA&#148;) to acquire The Switch Engineering Oy, a limited liability company
incorporated and existing under the laws of Finland (&#147;The Switch&#148;), as more fully described in the
Company&#146;s Current Report on Form 8-K filed on March&nbsp;14, 2011.</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">On June&nbsp;7, 2011, the Company and The Switch entered into a letter agreement providing for the
extension of the Long-Stop Date (as defined in Section&nbsp;6.6 of the SPA) until June&nbsp;30, 2011. This
extension is intended to permit the parties to negotiate an amendment to the SPA that, among other
things, is expected to provide for the closing of the transaction after the Company has secured the
necessary additional financing.</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">This description is qualified in its entirety by reference to the full text of the letter
agreement, a copy of which is filed as Exhibit&nbsp;10.1 to this report.</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>Item&nbsp;9.01. Financial Statements and Exhibits.</B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">(d)&nbsp;Exhibits:</DIV>

<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="12%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="85%">&nbsp;</TD>
</TR>
<TR></TR>
<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD align="center" valign="top"><DIV style="margin-left:0px; text-indent:-0px"><B>Exhibit
No.</B>
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top"><B>Description</B></TD>
</TR>
<TR style="font-size: 1px">
    <TD align="center" valign="top" style="border-top: 1px solid #000000"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top" style="border-top: 1px solid #000000">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD align="center" valign="top"><DIV style="margin-left:0px; text-indent:-0px">10.1
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Letter Agreement, dated as of June&nbsp;7, 2011, between the Company
and The Switch Engineering Oy.</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B><I>Forward Looking Statements</I></B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><I>Any statements in this report about future expectations, plans and prospects for the Company,
including without limitation, our expectations regarding the timing and contents of the amendment
to the Stock Purchase Agreement with The Switch and other statements containing the words
&#147;believes,&#148; &#147;anticipates,&#148; &#147;plans,&#148; &#147;expects,&#148; and similar expressions, constitute forward-looking
statements within the meaning of the Private Securities Litigation Reform Act of 1995. There are a
number of important factors that could materially impact the value of our common stock or cause
actual results to differ materially from those indicated by such forward-looking statements. Such
factors include: we may be subject to restatement of financial information from prior periods,
identification of deficiencies in our internal control over financial reporting or disclosure
control and procedures, and/or additional unanticipated accounting, audit and internal control
issues; we have a history of operating losses, and we may incur losses in the future; our operating
results may fluctuate significantly from quarter to quarter and may fall below expectations in any
particular fiscal quarter, including any expectations resulting from financial guidance issued by
us; a significant portion of our revenues are derived from a single customer, Sinovel, and revenues
from this customer may decline in future periods; any failure by this customer (or other customers)
to honor contractual obligations to accept products or to pay for products may have a material
adverse impact on our financial condition or results from operations; adverse changes in domestic
and global economic conditions could adversely affect our business; changes in exchange rates could
adversely affect our financial results; we may not realize all of the sales expected from our
backlog of orders and contracts; we rely upon third party suppliers for the components and
subassemblies of many of our products, making us vulnerable to supply shortages and price
fluctuations; we may require significant additional funding and may be unable to raise capital when
needed, which could force us to delay, reduce, or eliminate planned</I></DIV>




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<DIV style="font-family: 'Times New Roman',Times,serif">



<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><I>activities, including the planned acquisition of The Switch; failure to complete the planned
acquisition of The Switch could harm our operating results and could cause our stock price to
decline; completion of the planned acquisition of The Switch could present certain risks to our
business; we may acquire additional complementary businesses or technologies that may require us to
incur substantial costs for which we may never realize the anticipated benefits; our common stock
has experienced, and may continue to experience, significant market price and volume fluctuations,
which may prevent our stockholders from selling our common stock at a profit and could lead to
costly litigation against us that could divert our management&#146;s attention; if we fail to implement
our business strategy, our financial performance could be harmed and our growth could slow or stop;
our products face intense competition, which could limit our ability to acquire or retain
customers; our international operations are subject to risks that we do not face in the U.S., which
could have an adverse effect on our operating results; we depend on sales to China, and global
conditions could negatively affect our operating results or limit our ability to expand our
operations outside of China; changes in China&#146;s political, social, regulatory and economic
environment may affect our financial performance; problems with product quality or product
performance may cause us to incur warranty expenses and may damage our market reputation and
prevent us from achieving increased sales and market share; our success in addressing the wind
energy market is dependent on the manufacturers that license our designs; we have been named as a
party to purported stockholder class actions and shareholder derivative complaints, and we may be
named in additional litigation, all of which will require significant management time and attention
and result in significant legal expenses and may result in an unfavorable outcome, which could have
a material adverse effect on our business, operating results and financial condition; we have not
manufactured our Amperium wire in commercial quantities, and a failure to manufacture our Amperium
wire in commercial quantities at acceptable cost and quality levels would substantially limit our
future revenue and profit potential; and our patents may not provide meaningful protection for our
technology, which could result in us losing some or all of our market position. Reference is made
to these and other factors discussed in the &#147;Risk Factors&#148; section of the Company&#146;s most recent
quarterly or annual report filed with the Securities and Exchange Commission. In addition, any
forward-looking statements included in this report represent the Company&#146;s views as of the date of
this report. While the Company anticipates that subsequent events and developments may cause the
Company&#146;s 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 Company&#146;s views as of any date subsequent to the date this report is filed.</I></DIV>




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<DIV style="font-family: 'Times New Roman',Times,serif">




<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>SIGNATURES</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;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.
</DIV>

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<TR>
    <TD width="48%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
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    <TD width="15%">&nbsp;</TD>
</TR>
<TR>
    <TD align="left">&nbsp;</TD>
    <TD colspan="3" style="border-bottom: 0px solid #000000" align="left" nowrap>AMERICAN SUPERCONDUCTOR CORPORATION</TD>

    <TD>&nbsp;</TD>
</TR>
<TR>
    <TD align="left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR>
    <TD align="left">Date: June 13, 2011&nbsp;</TD>
    <TD valign="top">By:&nbsp;&nbsp;</TD>
    <TD colspan="2" style="border-bottom: 1px solid #000000" align="left">/s/ David A. Henry
&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD align="left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left">David A. Henry&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD align="left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left" nowrap><I>Senior Vice President and
Chief Financial Officer</I>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR>
    <TD colspan="5">&nbsp;</TD>
</TR>
</TABLE>


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</DOCUMENT>
<DOCUMENT>
<TYPE>EX-10.1
<SEQUENCE>2
<FILENAME>b86933exv10w1.htm
<DESCRIPTION>EX-10.1
<TEXT>
<HTML>
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<TITLE>exv10w1</TITLE>
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<DIV align="right" style="font-size: 10pt; margin-top: 12pt"><B>Exhibit&nbsp;10.1</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><IMG src="b86933b8693300.gif" alt="(AMERICAN SUPERCONDUCTOR LOGO)">
</DIV>


<DIV align="right" style="font-size: 10pt; margin-top: 12pt">June&nbsp;7, 2011
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Sellers under Share Purchase Agreement,<BR>
dated March&nbsp;12, 2011, concerning<BR>
The Switch Engineering Oy

</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Attention: Dag Sand&#229;s, as Sellers&#146; Representative

</DIV>
<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Re: <U>Extension of Long-Stop Date</U>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Dear Sirs:
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Reference is made to our recent discussions and Section&nbsp;6.6 of the Share Purchase Agreement (the
&#147;SPA&#148;), dated March&nbsp;12, 2011, by and among American Superconductor Corporation (&#147;AMSC&#148;) and the
shareholders of The Switch Engineering Oy (&#147;Switch&#148;).
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">As you are aware, regulatory approval in China required in connection with AMSC&#146;s acquisition of
Switch was received on May&nbsp;26, 2011. As discussed, the parties will need to discuss a new timeline
for closing and negotiate an amendment to the SPA and additional time will be required to
accomplish this. Since the current Long-Stop Date under Section&nbsp;6.6 of the SPA is May&nbsp;30, 2011, we
propose that the parties agree to extend the Long-Stop Date until June&nbsp;30, 2011.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Please confirm Sellers&#146; acceptance of the above by returning us a signed copy of this letter.
</DIV>


<TABLE width="100%" border="0" cellspacing="0" cellpadding="0" style="font-size: 10pt">
<TR>

    <TD width="1%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="35%">&nbsp;</TD>
    <TD width="48%">&nbsp;</TD>
    <TD width="15%">&nbsp;</TD>
</TR>
<TR>

    <TD colspan="3" align="left">Very truly yours,<BR>
<BR>
AMERICAN SUPERCONDUCTOR CORPORATION<BR>
&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD valign="top">By&nbsp;&nbsp;</TD>

<TD colspan="2" style="border-bottom: 1px solid #000000" align="left">/s/
Daniel Patrick McGahn</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD>&nbsp;</TD>
    <TD valign="top">Name:&nbsp;&nbsp;</TD>
    <TD align="left">Daniel Patrick McGahn&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD>&nbsp;</TD>
    <TD valign="top">Title:&nbsp;&nbsp;</TD>
    <TD align="left">CEO and President&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR>
    <TD colspan="5">&nbsp;</TD>
</TR>
</TABLE>

<DIV align="Center" style="font-size: 10pt; margin-top: 6pt"><FONT style="FONT-variant: SMALL-CAPS"><B>American Superconductor Corporation</B></FONT><BR>
<FONT style="FONT-variant: SMALL-CAPS">64 Jackson Road, Devens, MA 01434-4020</FONT><BR>
<FONT style="FONT-variant: SMALL-CAPS">Tel: &#043;1 978.842.3000 Fax: &#043;1 978.842.3024</FONT>
</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><IMG src="b86933b8693300.gif" alt="(AMERICAN SUPERCONDUCTOR LOGO)">
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Acknowledged and agreed on behalf of<BR>
the Sellers under the SPA

</DIV>

<TABLE width="100%" border="0" cellspacing="0" cellpadding="0" style="font-size: 10pt">
<TR>

    <TD width="1%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="35%">&nbsp;</TD>
    <TD width="48%">&nbsp;</TD>
    <TD width="15%">&nbsp;</TD>
</TR>
<TR>

    <TD colspan="3" align="left">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD valign="top">By&nbsp;&nbsp;</TD>
    <TD colspan="2" style="border-bottom: 1px solid #000000" align="left">/s/ Dag Sand&#229;s
&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD align="left">&nbsp;</TD>
    <TD valign="top">Name:&nbsp;&nbsp;</TD>
    <TD align="left">Dag Sand&#229;s&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD>&nbsp;</TD>
    <TD valign="top">Title:&nbsp;&nbsp;</TD>
    <TD align="left">Sellers&#146; Representative&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR>
    <TD colspan="5">&nbsp;</TD>
</TR>
</TABLE>

<DIV align="Center" style="font-size: 10pt; margin-top: 6pt"><FONT style="FONT-variant: SMALL-CAPS"><B>American Superconductor Corporation</B></FONT><BR>
<FONT style="FONT-variant: SMALL-CAPS">64 Jackson Road, Devens, MA 01434-4020</FONT><BR>
<FONT style="FONT-variant: SMALL-CAPS">Tel: &#043;1 978.842.3000 Fax: &#043;1 978.842.3024</FONT>
</DIV>


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