SAN JOSE, Calif.--(BUSINESS WIRE)--Apr. 19, 2018--
Super Micro Computer, Inc. (NASDAQ:SMCI), a global leader in
high-performance, high-efficiency server, storage technology and green
computing, today announced that the Company has closed an expanded new
credit facility, replacing its existing amended credit facility. The new
credit facility led by Bank of America Merrill Lynch received
commitments from syndicate banks for an amount in excess of $250 million
for a 60% increase in borrowing capacity. In addition, the new credit
facility provides a conversion opportunity to expand borrowing capacity
to $400 million, after certain conditions have been met.
“As Supermicro continues its strong growth momentum, it was imperative
that we increase our network of relationship banks as well as total
liquidity. Our new increased credit facility of $250 million in addition
to our other existing credit facility allows an upside in borrowing
capacity to meet our immediate growth objectives,” said Kevin Bauer,
Chief Financial Officer. “We are pleased to enter into this new
corporate credit facility, which provides flexibility for future
capacity while we continue to execute on our long term growth strategy.”
Cautionary Statement Regarding Forward Looking Statements
Statements contained in this press release that are not historical fact
may be forward-looking statements within the meaning of Section 27A of
the Securities Act of 1933 and Section 21E of the Securities Exchange
Act of 1934. Such forward-looking statements may relate, among other
things, to the status of the Company’s compliance with its existing loan
agreements. Such forward-looking statements do not constitute guarantees
of future performance and are subject to a variety of risks and
uncertainties, including those set forth in the Company’s filings with
the Securities and Exchange Commission under the caption "Risk Factors".
About Super Micro Computer, Inc.
Supermicro®, a global leader in high-performance, high-efficiency server
technology and innovation is a premier provider of end-to-end green
computing solutions for Data Center, Cloud Computing, Enterprise IT,
Hadoop/Big Data, HPC and Embedded Systems worldwide. Supermicro's
advanced Server Building Block Solutions® offer a vast array of
components for building energy-efficient, application-optimized,
computing solutions. Architecture innovations include Twin, TwinPro,
FatTwin™, Ultra Series, MicroCloud, MicroBlade, SuperBlade®,
Double-sided Storage®, Battery Backup Power (BBP®) modules and WIO/UIO.
Products include servers, blades, GPU systems, workstations,
motherboards, chassis, power supplies, storage, networking, server
management software and SuperRack® cabinets and accessories, delivering
unrivaled performance and value.
Founded in 1993 and headquartered in San Jose, California, Supermicro is
committed to protecting the environment through its "We Keep IT Green®"
initiative. The Company has global logistics and operations centers in
Silicon Valley (USA), the Netherlands (Europe) and its Science &
Technology Park in Taiwan (Asia).
Supermicro, FatTwin, TwinPro, SuperBlade, Double-Sided Storage, BBP,
SuperRack, Building Block Solutions and We Keep IT Green are trademarks
and/or registered trademarks of Super Micro Computer, Inc.
All other brands, names and trademarks are the property of their
respective owners.
SMCI-F
View source version on businesswire.com: https://www.businesswire.com/news/home/20180419006357/en/
Source: Super Micro Computer, Inc.
Investor Relations Contact
Super Micro Computer, Inc.
Perry
G. Hayes, 408-895-6570
SVP, Investor Relations