Summary by Moomoo AI
Super Micro Computer, Inc., a global leader in high-performance, high-efficiency server technology and innovation, has announced a public offering of 2,000,000 shares of its common stock. The shares are listed on the Nasdaq Global Select Market under the ticker symbol 'SMCI.' The offering was priced at $875.00 per share, aiming to raise a total of $1.75 billion before expenses. The underwriting discounts and commissions are set at $8.75 per share, resulting in net proceeds of approximately $1.7325 billion for the company. Super Micro Computer has also granted the underwriter an option to purchase up to an additional 300,000 shares within a 30-day period. The offering is expected to close on or about March 22, 2024. The company plans to use the net proceeds for general corporate purposes, including inventory purchases, working capital, manufacturing capacity expansions, and increased research and development investments. This strategic move is anticipated to support Super Micro's growth and operational needs.