2024.02.23 11:45
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BUZZ-Super Micro Computer dips after pricing of convertible notes

Shares of Super Micro Computerdropped 6.2% premarket after pricing convertible notes. The server component maker announced a private offering of $1.5 billion 5-yr convertible bonds to fund growth and expansion. SMCI's initial conversion price represents a 37.5% premium to the stock's close on Thursday. The company has surged 243% in 2024, benefiting from the AI boom. SMCI's valuation stands at $54.6 billion as of Thursday's close.

** Shares of Super Micro Computer (SMCI.O) drop 6.2% to $915.3 premarket as the server component maker prices convertible notes

** SMCI announced on Wed private offering of $1.5 bln 5-yr convertible bonds to fund growth and business expansion

** Initial conversion price of $1,341.38 represents a 37.5% premium to the stock’s close on Thursday

** SMCI has surged ~243% in 2024, hitting all-time highs as it benefited from a boom in AI; SMCI surged ~33% on Thursday following forecast-beating results from AI poster child Nvidia (NVDA.O)

** Co was valued at $54.6 bln as of Thursday’s close