Super Micro Computer, Inc. (SMCI) announced it has entered into two separate agreements to sell shares of its common stock: a large underwritten public offering and a new "at-the-market" (ATM) equity program. Concurrently, the company amended its existing credit agreement to support its financing activities.
Key Details
- Underwritten Offering: The company agreed to sell 45,454,545 shares of common stock, with underwriters granted a 30-day option to purchase up to an additional 6,818,181 shares. J.P. Morgan and Goldman Sachs are acting as representatives for the underwriters.
- At-The-Market (ATM) Program: Established an offering program to sell up to $1.25 billion in common stock from time to time. J.P. Morgan, Goldman Sachs, and Citigroup will act as sales agents for a commission of up to 1.0% of gross proceeds.
- Credit Agreement Amendment: On June 10, 2026, the company entered into Amendment No. 2 to its credit agreement, providing additional capacity for distributions related to its mandatory convertible preferred stock, subject to maintaining a Fixed Charge Coverage Ratio of at least 2.00:1.00.