<SEC-DOCUMENT>0001193125-15-016287.txt : 20150121
<SEC-HEADER>0001193125-15-016287.hdr.sgml : 20150121
<ACCEPTANCE-DATETIME>20150121165433
ACCESSION NUMBER:		0001193125-15-016287
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20150114
ITEM INFORMATION:		Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing
ITEM INFORMATION:		Other Events
FILED AS OF DATE:		20150121
DATE AS OF CHANGE:		20150121

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:		15539093

	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>d854825d8k.htm
<DESCRIPTION>FORM 8-K
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<TITLE>Form 8-K</TITLE>
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 <P STYLE="line-height:1.0pt;margin-top:0pt;margin-bottom:0pt;border-bottom:1px solid #000000">&nbsp;</P>
<P STYLE="line-height:3.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1px solid #000000">&nbsp;</P> <P STYLE="margin-top:4pt; margin-bottom:0pt; font-size:18pt; font-family:Times New Roman" ALIGN="center"><B>UNITED STATES </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:18pt; font-family:Times New Roman" ALIGN="center"><B>SECURITIES AND EXCHANGE COMMISSION </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman" ALIGN="center"><B>Washington, D.C. 20549 </B></P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><center>
<P STYLE="line-height:6.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1.00pt solid #000000;width:21%">&nbsp;</P></center> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:18pt; font-family:Times New Roman" ALIGN="center"><B>FORM 8-K
</B></P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><center> <P STYLE="line-height:6.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1.00pt solid #000000;width:21%">&nbsp;</P></center>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman" ALIGN="center"><B>CURRENT REPORT </B></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman" ALIGN="center"><B>Pursuant
to Section&nbsp;13 or 15(d) </B></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman" ALIGN="center"><B>of The Securities Exchange Act of 1934 </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman" ALIGN="center"><B>Date of Report (Date of earliest event reported): </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman" ALIGN="center"><B>January&nbsp;14, 2015 </B></P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><center>
<P STYLE="line-height:6.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1.00pt solid #000000;width:21%">&nbsp;</P></center> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:24pt; font-family:Times New Roman" ALIGN="center"><B>American
Superconductor Corporation </B></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>(Exact name of registrant as specified in its charter) </B></P>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><center> <P STYLE="line-height:6.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1.00pt solid #000000;width:21%">&nbsp;</P></center>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD VALIGN="top" ALIGN="center"><B>Delaware</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" ALIGN="center"><B>000-19672</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" ALIGN="center"><B>04-2959321</B></TD></TR>
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<TD VALIGN="top" ALIGN="center"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>(State or other jurisdiction</B></P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>of incorporation)</B></P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" ALIGN="center"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>(Commission</B></P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>File Number)</B></P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" ALIGN="center"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>(IRS Employer</B></P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>Identification No.)</B></P></TD></TR>
</TABLE> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD VALIGN="top" ALIGN="center"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>64 Jackson Road</B></P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>Devens, Massachusetts</B></P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center"><B>01434</B></TD></TR>
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<TD VALIGN="top" ALIGN="center"><B>(Address of principal executive offices)</B></TD>
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<TD VALIGN="top" ALIGN="center"><B>(Zip Code)</B></TD></TR>
</TABLE> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>Registrant&#146;s telephone number, including area code <U>(978)&nbsp;842-3000</U> </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>Not Applicable </B></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>(Former
name or former address, if changed since last report.) </B></P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><center>
<P STYLE="line-height:6.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1.00pt solid #000000;width:21%">&nbsp;</P></center> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">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): </P>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD ALIGN="left" VALIGN="top">Written communications pursuant to Rule&nbsp;425 under the Securities Act (17 CFR 230.425) </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TR>
<TD WIDTH="4%" VALIGN="top" ALIGN="left"><FONT STYLE="FONT-FAMILY:WINGDINGS">&#168;</FONT></TD>
<TD ALIGN="left" VALIGN="top">Soliciting material pursuant to Rule&nbsp;14a-12 under the Exchange Act (17 CFR 240.14a-12) </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TR>
<TD WIDTH="4%" VALIGN="top" ALIGN="left"><FONT STYLE="FONT-FAMILY:WINGDINGS">&#168;</FONT></TD>
<TD ALIGN="left" VALIGN="top">Pre-commencement communications pursuant to Rule&nbsp;14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD ALIGN="left" VALIGN="top">Pre-commencement communications pursuant to Rule&nbsp;13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) </TD></TR></TABLE> <P STYLE="font-size:10pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<P STYLE="line-height:1.0pt;margin-top:0pt;margin-bottom:0pt;border-bottom:1px solid #000000">&nbsp;</P> <P STYLE="line-height:3.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1px solid #000000">&nbsp;</P>

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<TD WIDTH="10%" VALIGN="top" ALIGN="left"><B>Item&nbsp;3.01.</B></TD>
<TD ALIGN="left" VALIGN="top"><B>Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing. </B></TD></TR></TABLE> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">On
January&nbsp;14, 2015, American Superconductor Corporation (the &#147;<U>Company</U>&#148;) received a letter (the &#147;<U>Notification Letter</U>&#148;) from The NASDAQ Stock Market LLC (&#147;<U>Nasdaq</U>&#148;) notifying the Company that it is
not in compliance with the minimum bid price requirement set forth in Nasdaq Listing Rule 5450(a)(1) for continued listing on The Nasdaq Global Select Market. Nasdaq Listing Rule 5450(a)(1) requires listed securities to maintain a minimum bid price
of $1.00 per share, and Listing Rule 5810(c)(3)(A) provides that a failure to meet the minimum bid price requirement exists if the deficiency continues for a period of 30 consecutive business days. Based on the closing bid price of the
Company&#146;s common stock for the 30 consecutive business days prior to the date of the Notification Letter, the Company no longer meets the minimum bid price requirement. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">The Notification Letter does not impact the Company&#146;s listing on The Nasdaq Global Select Market at this time. In accordance with Nasdaq Listing Rule
5810(c)(3)(A), the Company has been provided 180 calendar days, or until July&nbsp;13, 2015, to regain compliance with Nasdaq Listing Rule 5450(a)(1). To regain compliance, the Company&#146;s common stock must have a closing bid price of at least
$1.00 for a minimum of 10 consecutive business days. In the event the Company does not regain compliance by July&nbsp;13, 2015, the Company may be eligible for additional time to regain compliance. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">To facilitate the Company&#146;s efforts to regain compliance, the Company filed a preliminary proxy statement with the Securities and Exchange Commission
(the &#147;<U>SEC</U>&#148;) on January&nbsp;21, 2015 (the &#147;<U>Proxy Statement</U>&#148;) which includes a proposal (the &#147;<U>Proposal</U>&#148;) seeking stockholder approval of amendments to the Company&#146;s Restated Certificate of
Incorporation, as amended, to effect a reverse stock split. If the Proposal is approved by the Company&#146;s stockholders, it will be implemented by the Company&#146;s board of directors if the board of directors determines that a reverse stock
split is in the best interests of the Company and its stockholders. There can be no assurance that the Proposal will be approved by stockholders, or that the Proposal, if approved, would be sufficient to permit the Company to regain compliance with
the minimum bid price requirement. </P> <P STYLE="font-size:18pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD WIDTH="10%" VALIGN="top" ALIGN="left"><B>Item&nbsp;8.01.</B></TD>
<TD ALIGN="left" VALIGN="top"><B>Other Events. </B></TD></TR></TABLE> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">As previously disclosed in the Company&#146;s Current Report on Form 8-K filed with the
SEC on September&nbsp;4, 2014, the Company&#146;s insurer, Catlin Specialty Insurance Company (&#147;<U>Catlin</U>&#148;), sought and received a ruling from the Massachusetts Superior Court that coverage does not apply to the award of approximately
&#128;8.3&nbsp;million (currently, approximately $9.8 million), plus interest (the &#147;<U>Award</U>&#148;), issued by the Arbitration Tribunal for the ICC International Court of Arbitration (&#147;<U>ICC Court</U>&#148;), dated August&nbsp;29,
2014, in the arbitration proceedings between the Company&#146;s wholly-owned Austrian subsidiary, AMSC Austria GmbH (&#147;<U>AMSC Austria</U>&#148;) and Ghodawat Energy Pvt. Ltd. The Massachusetts Superior Court has yet to determine whether Catlin
would be entitled to recoup the approximately $2.3 million reimbursed to date under the policy for expenses incurred in connection with the arbitration proceedings (the &#147;<U>Expenses</U>&#148;). </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">On January&nbsp;14, 2015, the Company and AMSC Austria entered into a Settlement Agreement and Release with Catlin to resolve any and all claims between them
with respect to (a)&nbsp;coverage for the Award; and (b)&nbsp;the Expenses. The Settlement Agreement and Release provided for, among other things, (a)&nbsp;the Company&#146;s and AMSC Austria&#146;s release of all claims against Catlin relating to
the Award; and (b)&nbsp;Catlin&#146;s release of all claims against the Company and AMSC Austria relating to the Expenses. </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Forward-Looking Statements
</B></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Statements in this report that are not strictly historical in nature constitute &#147;forward-looking statements&#148; within the meaning of the
Private Securities Litigation Reform Act of 1995. Such statements include, but are not limited to, statements regarding the approval of the Proposal by stockholders and the implementation of the Proposal by the board of directors, and the
Company&#146;s eligibility for additional time to regain compliance with the minimum bid price requirement if it does not do so by July&nbsp;13, 2015. Such forward-looking statements represent management&#146;s 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 Proposal will not be approved by stockholders or implemented by the board of
directors, the risk that, if approved and implemented, the Proposal would not be sufficient to permit the Company to regain compliance with the minimum bid price requirement. These and the important factors discussed in the &#147;Risk Factors&#148;
section of the Company&#146;s Annual Report on Form 10-K for the fiscal year ended March&nbsp;31, 2014, 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 Company&#146;s expectations 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 of this report. </P>
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>SIGNATURES </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">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. </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD VALIGN="top" COLSPAN="3">AMERICAN SUPERCONDUCTOR CORPORATION</TD></TR>
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<TD VALIGN="top">Date: January&nbsp;21, 2015</TD>
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<TD VALIGN="top">By:</TD>
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<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1px solid #000000; font-size:10pt; font-family:Times New Roman">/s/ David A. Henry</P></TD></TR>
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<TD VALIGN="top">David A. Henry</TD></TR>
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<TD VALIGN="top"><I>Executive Vice President and Chief Financial Officer</I></TD></TR>
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