SAN JOSE, Calif. - Super Micro Computer, Inc. (NASDAQ: NASDAQ:SMCI), known as Supermicro, has announced the pricing of its public offering of 2 million shares of common stock at $875.00 per share. The technology firm expects to raise $1.75 billion in gross proceeds before deductions such as underwriting discounts and commissions. The offering, subject to customary closing conditions, is slated to close on March 22, 2024.
In addition to the shares offered, Supermicro has granted the underwriter, Goldman Sachs & Co (NYSE:GS). LLC, a 30-day option to purchase up to an extra 300,000 shares at the public offering price with the standard underwriting reductions.
The company plans to use the proceeds to support its operations, which include purchasing inventory, expanding manufacturing capacity, and increasing investments in research and development. These steps are aimed at bolstering its position in providing IT solutions optimized for various applications such as Enterprise, Cloud, AI, and 5G Telco/Edge IT Infrastructure.
This offering is being executed in accordance with an effective registration statement on Form S-3 filed with the Securities and Exchange Commission (SEC) on March 19, 2024. Prospective investors can obtain a final prospectus from Goldman Sachs & Co. LLC once it is available.
Supermicro, headquartered in San Jose, California, is recognized for its Application-Optimized Total IT Solutions. The company's expansive product portfolio includes server, AI, storage, IoT, and switch systems, along with software and support services.
Supermicro prides itself on its design and manufacturing capabilities, which are spread across the United States, Taiwan, and the Netherlands, aiming to deliver innovative solutions from cloud to edge while emphasizing reduced total cost of ownership and environmental impact.
This press release does not constitute an offer to sell or a solicitation of an offer to buy any securities, and there will be no sale of these securities in any state or jurisdiction where such offer, solicitation, or sale would be unlawful before registration or qualification under the securities laws of such state or jurisdiction.
The information presented here is based on a press release statement from Super Micro Computer, Inc.
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