Supermicro 2M share offering prices at $875 per share

Supermicro announced the pricing of its previously announced underwritten public offering of 2M shares of its common stock at a public offering price of $875.00 per share. The gross proceeds to Supermicro are expected to be $1.75B before deducting underwriting discounts, commissions and estimated offering expenses, and assuming no exercise of the underwriter’s option to purchase additional shares. The offering is expected to close on or about March 22. The company currently intends to use the proceeds from the offering to support its operations, including for purchase of inventory and other working capital needs, manufacturing capacity expansion and increased R&D investments. Goldman Sachs is acting as sole underwriter and sole book-running manager for the offering.