DLA Piper advises Supermicro in its issuance of US$1.725 billion in 0.0% convertible notes

DLA Piper advised Super Micro Computer, Inc. (Supermicro), a global leader in IT solutions and green computing, in its offering of US$1.725 billion aggregate principal amount of 0.0% convertible senior notes.

The total includes US$225 million in convertible sold pursuant to the exercise in full of the initial purchasers’ over-allotment option.

Supermicro will receive net proceeds from the offering of approximately US$1.70 billion and plans to use the proceeds for general corporate purposes, including to fund working capital for growth and business expansion.

“On behalf of our deal team, it was a pleasure to work with Supermicro and bring together the capabilities and resources of our firm to help the company achieve a successful offering on an accelerated timetable,” said Alan Seem, the DLA Piper partner who led the deal team.

This follows DLA Piper’s representation of Supermicro in its US$632 million underwritten public offering in December 2023 of 2,415,805 shares of its common stock, including 100,700 shares offered by certain selling stockholders.

Along with Seem (Palo Alto), the DLA Piper team that advised Supermicro included partner Drew Valentine (New York/Austin) and associates Jordyn Giannone (New York), Tiffany Sakamoto, Wei Li and Sara Hashem (all in Palo Alto).  Assisting with the capped call transactions were partners Marc Horwitz (Chicago) and Brian Hamano (Los Angeles) and associate Payvand Coyle (Los Angeles).

DLA Piper’s global capital markets team represents issuers and underwriters in registered and unregistered equity, equity-linked and debt capital markets transactions, including initial public offerings, follow-on equity offerings, equity-linked securities offerings, and offerings of investments grade and high-yield debt securities.