Super Micro Computer Prices Up to $7 Billion Public Offering

MT Newswires Live06-11 19:53

Super Micro Computer (SMCI) said Thursday that it has priced its up to $7 billion public offering of equity and equity-linked financing transactions.

The company said it will sell 45.5 million common shares at $27.50 apiece, raising net proceeds of $1.22 billion.

It will also offer 75 million depositary shares, each representing a 1/20th interest in a share of newly issued 7.0% series A mandatory convertible preferred stock at $50 apiece, for net proceeds of $3.68 billion.

Super Micro said it has granted underwriters an option to buy an additional 6.8 million common shares and 11.3 million depository shares within 30 days.

The company said it intends to use a portion of proceeds from the common and depositary share offerings, along with funds from its $1.25 billion at-the-market program, to fund its $39 billion in orders for AI servers.

The offering of common shares and depository shares is expected to close on June 12 and June 15, respectively, the company said.

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