Supermicro prices $1.5B convertible note offering due 2029 at 37.5% conversion premium

Super Micro Computer, Inc.

Zero-coupon convertible senior notes due 2029; initial purchasers may buy additional $225M.
Initial conversion price ~$1,341.38/share, a 37.5% premium over $975.52 Feb 22 closing price.
Net proceeds ~$1.47B; $123.6M for capped call transactions; balance for working capital and growth.
Capped call transactions reduce dilution; cap price $1,951.04/share (100% premium).
Closing expected Feb 27, 2024; notes mature March 1, 2029 and are redeemable after March 2027.

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