Summary by Moomoo AI
On February 21, 2024, Super Micro Computer, Inc., a Delaware-incorporated company listed on the NASDAQ Global Select Market under the trading symbol SMCI, announced its entry into a Seventh Amendment to its Loan and Security Agreement with lenders and Bank of America, N.A. This amendment facilitates the company's proposed offering of $1.5 billion in convertible senior notes due in 2029 and the associated capped call transactions. Concurrently, Super Micro Computer issued a press release detailing its intention to offer these convertible senior notes to qualified institutional buyers in accordance with Rule 144A under the Securities Act of 1933, as amended. The company also plans to provide a 13-day option for initial purchasers to buy an additional $225 million in notes. The proceeds from the offering are intended for general corporate purposes, including working capital to support growth and business expansion. The offering and sale of the notes and any shares of common stock issuable upon conversion have not been registered under the Securities Act and will be made only through a private offering memorandum.