SUPER MICRO COMPUTER INC plans to raise $7 billion in equity financing to purchase components needed for fulfilling customer orders for artificial intelligence (AI) servers.
The company announced in a press release on Tuesday that the equity financing will include a $5 billion underwritten offering, comprising approximately $1.25 billion in common stock and roughly $3.75 billion in depositary shares. Additionally, it involves an at-the-market offering of up to $2 billion in common stock. This second component involves the company selling shares directly into the open market from time to time, commencing no earlier than the third quarter.
Shares of SUPER MICRO COMPUTER INC (SMCI) plunged more than 10% in after-hours trading.
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