Super Micro closes 75 million-share mandatory convertible preferred offering
Super Micro Computer completed the sale of 75,000,000 depositary shares of its 7.00% Series A Mandatory Convertible Preferred Stock, with the offering closing on June 15, 2026. The preferred stock pays a 7.00% annual dividend and automatically converts into common stock by June 2029, so holders of common stock will face potential dilution depending on the conversion rate set at that time.
Key points
- Underwriting agreement dated June 10, 2026 with J.P. Morgan Securities LLC and Goldman Sachs & Co. LLC for 75,000,000 depositary shares, each representing a 1/20 interest in a preferred share with a $1,000 liquidation preference
- Underwriters have a 30-day option to buy up to an additional 11,250,000 depositary shares to cover over-allotments
- Dividends at 7.00% a year, payable quarterly from September 1, 2026 through June 1, 2029, when declared by the Board
- Mandatory conversion into 30.3040 to 36.3640 common shares per preferred share (1.5152 to 1.8182 per depositary share), subject to the average VWAP over the 20-day final averaging period
The filing
Written by AI on Nov 8, 2026, 12:42 AM ET, from this filing only. Written later: this filing was briefed after the fact, when past filings were added to the site, so the brief may be read with hindsight; the filing itself is the record of what was known on June 15, 2026.
Briefs are written by AI from the filing text and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the AI's reading of the filing for shareholders, not a price forecast. Not investment advice.