Supermicro proposes $1.5B convertible notes offering due 2029

Super Micro Computer, Inc.

$1.5B aggregate principal amount of convertible senior notes due March 1, 2029, with option for additional $225M.
Notes convertible under conditions; settlement in cash, stock, or combination at Company's election.
Company expects to enter capped call transactions to reduce potential dilution or offset cash payments.
Net proceeds to fund capped calls and for general corporate purposes, including working capital for growth.
Seventh Amendment to Loan Agreement entered to allow for the offering and related capped call transactions.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

Super Micro Computer, Inc. amended Seventh Amendment to Loan and Security Agreement with Bank of America, N.A. and the lenders party thereto (effective 2024-02-21).

Action: amendment
Agreement: credit facility
Counterparty: Bank of America, N.A. and the lenders party thereto
Effective: 2024-02-21

Exact text from the filing

On February 21, 2024 Super Micro Computer, Inc. (the “Company”) entered into a Seventh Amendment to Loan and Security Agreement (the “Agreement”) dated April 19, 2018, by and among the Company, as Borrower, the lenders party thereto (the “Lenders”) and Bank of America, N.A., as administrative agent for the Lenders to amend certain financial covenants of the Agreement to allow for the Company’s proposed offering of convertible senior notes as described below and the entry into capped call transactions in connection therewith.

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Super Micro Computer, Inc. filing history →

Source: SEC EDGAR

accession 0001375365-24-000015

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