Attached files

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8-K - FORM 8-K - AMERICAN SUPERCONDUCTOR CORP /DE/d623764d8k.htm
EX-10.1 - EX-10.1 - AMERICAN SUPERCONDUCTOR CORP /DE/d623764dex101.htm
EX-10.2 - EX-10.2 - AMERICAN SUPERCONDUCTOR CORP /DE/d623764dex102.htm
EX-4.2 - EX-4.2 - AMERICAN SUPERCONDUCTOR CORP /DE/d623764dex42.htm
EX-4.1 - EX-4.1 - AMERICAN SUPERCONDUCTOR CORP /DE/d623764dex41.htm

Exhibit 5.1

 

 

John Hancock Tower, 20th Floor

200 Clarendon Street

Boston, Massachusetts 02116

Tel: +1.617.948.6000 Fax: +1.617.948.6001

www.lw.com

LOGO

 

 

November 18, 2013

 

 

FIRM / AFFILIATE OFFICES

 

Abu Dhabi

Barcelona

Beijing

Boston

Brussels

Chicago

Doha

Dubai

Düsseldorf

Frankfurt

Hamburg

Hong Kong

Houston

London

 

Milan

Moscow

Munich

New Jersey

New York

Orange County

Paris

Riyadh

Rome

San Diego

San Francisco

Shanghai

Silicon Valley

Singapore

American Superconductor Corporation

64 Jackson Road

 

Los Angeles

Madrid

 

Tokyo

Washington, D.C.

Devens, Massachusetts 01434

 

  Re: Registration Statement No. 333-191153 on

Form S-3; Shares of Common Stock, $0.01 par value per share, having an

aggregate offering price of up to $30,000,000

Ladies and Gentlemen:

We have acted as special counsel to American Superconductor Corporation, a Delaware corporation (the “Company”), in connection with the sale by the Company of shares (the “Shares”) of common stock, $0.01 par value per share (the “Common Stock”), having an aggregate offering price of up to $30,000,000, pursuant to (x) a registration statement on Form S-3 (the “Registration Statement”), under the Securities Act of 1933, as amended (the “Act”), filed with the Securities and Exchange Commission (the “Commission”) on September 13, 2013 (Registration No. 333-191153), (y) the base prospectus, dated September 25, 2013, included in the Registration Statement and the related prospectus supplement, dated November 15, 2013, filed with the Commission pursuant to Rule 424(b) under the Act (collectively, the “Prospectus”), and (z) that certain At Market Issuance Sales Agreement, dated as of November 15, 2013, by and between the Company and MLV & Co. LLC (the “Sales Agreement”). This opinion is being furnished in connection with the requirements of Item 601(b)(5) of Regulation S-K under the Act, and no opinion is expressed herein as to any matter pertaining to the contents of the Registration Statement or the Prospectus, other than as expressly stated herein with respect to the issue of the Shares.

As such counsel, we have examined such matters of fact and questions of law as we have considered appropriate for purposes of this letter. With your consent, we have relied upon certificates and other assurances of officers of the Company and others as to factual matters without having independently verified such factual matters. We are opining herein as to the General Corporation Law of the State of Delaware, and we express no opinion with respect to the applicability thereto, or the effect thereon, of the laws of any other jurisdiction or, in the case of Delaware, any other laws, or as to any matters of municipal law or the laws of any local agencies within any state.


November 18, 2013

Page 2

 

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Subject to the foregoing and the other matters set forth herein, it is our opinion that, as of the date hereof, when the Shares shall have been duly registered on the books of the transfer agent and registrar therefor in the name or on behalf of the purchasers, upon issuance, delivery and payment therefor in an amount not less than the par value thereof in the circumstances contemplated by the Sales Agreement, the issue and sale of the Shares will have been duly authorized by all necessary corporate action of the Company and such Shares will be validly issued, fully paid and nonassessable. In rendering the foregoing opinion, we have assumed that (i) the Company will comply with all applicable notice requirements regarding uncertificated shares provided in the General Corporation Law of the State of Delaware and (ii) upon the issue of any of the Shares, the total number of shares of Common Stock issued and outstanding will not exceed the total number of shares of Common Stock that the Company is then-authorized to issue under its Restated Certificate of Incorporation.

This opinion is for your benefit in connection with the Registration Statement and may be relied upon by you and by persons entitled to rely upon it pursuant to the applicable provisions of the Act. We consent to your filing this opinion as an exhibit to the Company’s Form 8-K dated November 18, 2013 and to the reference to our firm contained in the Prospectus under the heading “Legal Matters.” In giving such consent, we do not thereby admit that we are in the category of persons whose consent is required under Section 7 of the Act or the rules and regulations of the Commission thereunder.

 

Very truly yours,
/s/ Latham & Watkins LLP