SMCISuper Micro Computer, Inc.
Jun 12, 5:12 PM ET
Supermicro prices $5.0 billion of stock and preferred offerings to fund AI server components
Supermicro agreed on June 10 and 11, 2026 to sell common stock and mandatory convertible preferred stock, with the company saying the proceeds will help fund components for approximately $39 billion of AI server orders from more than 20 customers. The common stock priced at $27.50 per share and the depositary shares at $50 each, and the company also set up a separate at-the-market program of up to $1.25 billion. The offerings add dilution for existing common shareholders, and the filing contains no revenue, profit or guidance figures.
- Common stock: 45,454,545 shares at $27.50 per share, with underwriters holding a 30-day option on 6,818,181 more shares; closing expected June 12, 2026.
- Depositary shares: 75,000,000 at $50 each, each representing a 1/20th interest in 7.0% series A mandatory convertible preferred stock; closing expected June 15, 2026.
- At-the-market program: up to $1.25 billion of common stock through J.P. Morgan, Goldman Sachs and Citigroup, with sales not expected to start until the third quarter of 2026 and commissions of up to 1.0%.
- Credit agreement Amendment No. 2, dated June 10, 2026, allows additional distributions on certain preferred stock, subject to a pro forma fixed charge coverage ratio of at least 2.00:1.00.