Supermicro® Announces Amendment to Credit Facility
March 13 2018 - 9:00AM
Business Wire
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.
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 / 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
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version on businesswire.com: http://www.businesswire.com/news/home/20180313005813/en/
Super Micro Computer, Inc.Perry G. Hayes, 408-895-6570SVP,
Investor Relations