Supermicro Announces Amendment to Credit Facility
SAN JOSE, Calif., March 13, 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 entered into an amendment to the Company’s existing loan agreement with Bank of America Merrill Lynch (the “Loan Agreement”), which waives the default arising from the Company having not yet filed its 2017 Annual Report on Form 10-K and Quarterly Reports on Form 10-Q for the quarters ended September 30, and December 31, 2017, provided that no additional defaults occur.
The amendment also requires that the Company refinance its obligations under the Loan Agreement by April 20, 2018. The Company is in negotiations with Bank of America Merrill Lynch with respect to a new debt facility to refinance its existing debt obligations under the Loan Agreement. The new debt facility, to be led by Bank of America Merrill Lynch, is expected to also include other lenders and increase the Company’s borrowing capacity.
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.
Source: Super Micro Computer, Inc.