Super Micro Computer Enters Material Agreement, New Financial Obligation

Ticker: SMCI · Form: 8-K · Filed: Feb 20, 2024 · CIK: 1375365

Super Micro Computer, Inc. 8-K Filing Summary
FieldDetail
CompanySuper Micro Computer, Inc. (SMCI)
Form Type8-K
Filed DateFeb 20, 2024
Risk Levelmedium
Pages4
Reading Time5 min
Key Dollar Amounts$0.001, $105.0 million, $185.0 million, $40.0 million, $50.0 million
Sentimentneutral

Sentiment: neutral

Topics: debt, agreement, financial-obligation

Related Tickers: SMCI

TL;DR

**SMCI just took on new debt or a major financial commitment, watch for details!**

AI Summary

Super Micro Computer, Inc. filed an 8-K on February 20, 2024, reporting an event on February 16, 2024, concerning the entry into a Material Definitive Agreement and the creation of a Direct Financial Obligation. The filing indicates the company, based in San Jose, California, with IRS Number 77-0353939, has undertaken a new financial commitment. This suggests a significant operational or strategic move by Super Micro Computer, Inc.

Why It Matters

This filing signals a new financial commitment for Super Micro Computer, Inc., which could impact its balance sheet, future operations, and investor perception.

Risk Assessment

Risk Level: medium — The filing indicates a new direct financial obligation without specifying the amount or purpose, which introduces uncertainty regarding its impact on the company's financial health.

Key Players & Entities

  • Super Micro Computer, Inc. (company) — Registrant
  • February 16, 2024 (date) — Date of earliest event reported
  • February 20, 2024 (date) — Filing date
  • San Jose, California (company) — Registrant's business address
  • 77-0353939 (dollar_amount) — I.R.S. Employer Identification No.

FAQ

What was the earliest event reported in this 8-K filing?

The earliest event reported in this 8-K filing occurred on February 16, 2024.

What items of information were reported in this 8-K?

The 8-K reported 'Entry into a Material Definitive Agreement', 'Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant', and 'Financial Statements and Exhibits'.

What is the full name of the registrant?

The full name of the registrant is Super Micro Computer, Inc.

Where is Super Micro Computer, Inc.'s principal executive office located?

Super Micro Computer, Inc.'s principal executive office is located at 980 Rock Avenue, San Jose, California 95131.

What is the registrant's Commission File Number?

The registrant's Commission File Number is 001-33383.

Filing Stats: 1,154 words · 5 min read · ~4 pages · Grade level 11.1 · Accepted 2024-02-20 16:11:35

Key Financial Figures

  • $0.001 — ange on which registered Common Stock, $0.001 par value SMCI The NASDAQ Global Select
  • $105.0 million — for aggregate total borrowings of up to $105.0 million. On February 16, 2024 (the "Effective
  • $185.0 million — s with CTBC Bank from $105.0 million to $185.0 million. Such individual credit arrangements un
  • $40.0 million — oan providing a line of credit of up to $40.0 million (the "USD Short Term Loan Line"), (iii)
  • $50.0 million — of up to $105.0 million for exports and $50.0 million for imports (the "Export/Import Line")
  • $80.0 million — import o/a loan line of credit of up to $80.0 million available through August 31, 2024 (the
  • $70.0 million — permitted total borrowings to a cap of $70.0 million from $105.0 million. Additional covenan

Filing Documents

01 Entry into a Material Definitive Agreement

Item 1.01 Entry into a Material Definitive Agreement Super Micro Computer Inc., Taiwan (the "Subsidiary"), a Taiwan corporation and wholly-owned subsidiary of Super Micro Computer, Inc. (the "Company) was party to (i) a general agreement for omnibus credit lines dated September 28, 2023 with CTBC Bank Co., Ltd. ("CTBC Bank") and (ii) various individual credit arrangements under such general agreement which provided for aggregate total borrowings of up to $105.0 million. On February 16, 2024 (the "Effective Date"), the Subsidiary entered into a new general agreement for omnibus credit lines with CTBC Bank, which increased the aggregate total borrowings from time to time under the various individual credit arrangements with CTBC Bank from $105.0 million to $185.0 million. Such individual credit arrangements under such general agreement include the previous issued long and medium term loan facility of NTD 1,550.0 million in 2021 and 2020 (the "Long and Medium Loan Facility"), and each of (i) a short-term loan and guarantee line providing credit of up to NTD1,250.0 million and NTD100.0 million, respectively (the "NTD Short Term Loan/Guarantee Line"), (ii) a short-term loan providing a line of credit of up to $40.0 million (the "USD Short Term Loan Line"), (iii) an export/import o/a loan line providing a line of credit of up to $105.0 million for exports and $50.0 million for imports (the "Export/Import Line") and (iv) an import o/a loan line of credit of up to $80.0 million available through August 31, 2024 (the "Incremental Import Line," and, together with the NTD Short Term Loan/Guarantee Line and the USD Short Term Loan Line, and Export/Import Line, the "Increased CTBC Credit Lines"). Aggregate borrowings under all the Increased CTBC Credit Lines together is subject to a cap of $185.0 million. Interest rates under each of the individual Increased CTBC Credit Lines are to be established according to individual credit arrangements, which interest rates shall be su

01 Financial Statements and Exhibits

Item 9.01 Financial Statements and Exhibits (d) Exhibits Exhibit Number Description 10.1 General Agreement for Omnibus Credit Lines dated as of February 16, 2024 between Super Micro Computer, Inc. Taiwan and CTBC Bank Co., Ltd. 10.2 Agreement for Individually Negotiated Terms and Conditions dated as of September 28, 2023 between Super Micro Computer, Inc. Taiwan and CTBC Bank Co., Ltd. (incorporated by reference to Exhibit 10.2 from the Company's Current Report on Form 8-K (Commission File No. 001-33383) filed with the Securities and Exchange Commission on October 2, 2023) 10.3 Summary of Short-Term Credit Facilities dated as of January 23, 2024 104 The cover page from this Current Report on Form 8-K, formatted in Inline XBRL SIGNATURE Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. SUPER MICRO COMPUTER, INC. Date: February 20, 2024 By: /s/ Charles Liang President, Chief Executive Officer and Chairman of the Board

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