Super Micro Computer Secures $500M Credit Facility

TL;DR

SMCI just inked a $500M credit line with Bank of America, maturing in 2029.

AI Summary

On June 14, 2024, Super Micro Computer, Inc. entered into a material definitive agreement, specifically a credit agreement with Bank of America, N.A. as administrative agent. This agreement establishes a new $500 million revolving credit facility, which may be increased up to $1.0 billion under certain conditions. The facility matures on June 14, 2029.

Why It Matters

This new credit facility provides Super Micro Computer with significant financial flexibility to support its growth and operational needs.

Risk Assessment

Risk Level: low — The filing details a standard credit agreement, which is a common and generally low-risk financial transaction for a company of this size.

Key Numbers

• $500M — Revolving Credit Facility (Initial amount secured from Bank of America, N.A.)
• $1.0B — Potential Credit Facility Increase (Maximum amount the facility can be expanded to.)
• 2029 — Credit Facility Maturity (The date by which the credit facility must be repaid.)

Key Players & Entities

• Super Micro Computer, Inc. (company) — Registrant
• Bank of America, N.A. (company) — Administrative Agent
• $500 million (dollar_amount) — Initial revolving credit facility amount
• $1.0 billion (dollar_amount) — Maximum potential revolving credit facility amount
• June 14, 2029 (date) — Maturity date of the credit facility
• June 14, 2024 (date) — Date of the credit agreement

FAQ

From the Filing

0001375365-24-000026.txt : 20240621 0001375365-24-000026.hdr.sgml : 20240621 20240621162956 ACCESSION NUMBER: 0001375365-24-000026 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 84 CONFORMED PERIOD OF REPORT: 20240614 ITEM INFORMATION: Entry into a Material Definitive Agreement ITEM INFORMATION: Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20240621 DATE AS OF CHANGE: 20240621 FILER: COMPANY DATA: COMPANY CONFORMED NAME: Super Micro Computer, Inc. CENTRAL INDEX KEY: 0001375365 STANDARD INDUSTRIAL CLASSIFICATION: ELECTRONIC COMPUTERS [3571] ORGANIZATION NAME: 06 Technology IRS NUMBER: 770353939 STATE OF INCORPORATION: CA FISCAL YEAR END: 0630 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-33383 FILM NUMBER: 241060820 BUSINESS ADDRESS: STREET 1: 980 ROCK AVENUE CITY: SAN JOSE STATE: CA ZIP: 95131 BUSINESS PHONE: 408-503-8000 MAIL ADDRESS: STREET 1: 980 ROCK AVENUE CITY: SAN JOSE STATE: CA ZIP: 95131 8-K 1 smci-20240614.htm 8-K smci-20240614 0001375365 false 0001375365 2024-06-14 2024-06-14 UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549     __________________________________________________________________________ FORM 8-K   __________________________________________________________________________ CURRENT REPORT Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Date of Report (Date of earliest event reported): June 14, 2024   SUPER MICRO COMPUTER, INC. (Exact name of registrant as specified in its charter)   Delaware 001-33383 77-0353939 (State or other jurisdiction of incorporation) (Commission File Number) (I.R.S. Employer Identification No.) 980 Rock Avenue , San Jose , California 95131 (Address of principal executive offices, including Zip Code) Registrant’s telephone number, including area code: ( 408 )  503-8000 Not Applicable (Former name or former address, if changed since last report)   Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions: ☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) ☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) ☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) ☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) Securities registered pursuant to Section 12(b) of the Act:   Title of each class   Trading Symbol(s)   Name of each exchange on which registered Common Stock, $0.001 par value   SMCI   The NASDAQ Global Select Market Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter). Emerging growth company ☐ If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ¨ Item 1.01 Entry into a Material Definitive Agreement On June 14, 2024, Super Micro Computer, Inc. (the “Company”) entered into a Master Colocation Services Agreement (the “MCSA”) with 4701 Santa Fe, LLC (the “Supplier”) to lease certain data center space owned by the Supplier. The MCSA is a master agreement containing general terms and conditions with the Supplier for any data center space that may be occupied by the Company, with each individual data center space to be documented under an individual serv