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Freshfields Advises Super Micro on Issuance of $700m Convertible Notes and Amendments and Waivers Relating to Its Existing $1.725b Convertible Notes
Freshfields advised Super Micro Computer, Inc. (“Supermicro”) on a private placement of $700 million aggregate principal amount of 2.25% Convertible Senior Notes due 2028 (the “New Notes”) and certain amendments and waivers with respect to its existing $1.725 billion aggregate principal amount of Convertible Senior Notes due 2029 (the “Existing Notes”). The New Notes will be convertible into cash, shares of Supermicro common stock, or a combination thereof, at Supermicro’s election. In addition, Freshfields advised Supermicro in connection with the amendment of capped call transactions entered into in connection with the amendment of the Existing Notes.
Supermicro is committed to delivering first to market innovation for Enterprise, Cloud, AI, and 5G Telco/Edge IT Infrastructure and is a Total IT Solutions provider with server, AI, storage, IoT, switch systems, software, and support services. Supermicro’s award-winning portfolio of Server Building Block Solutions® allows its customers to optimize for their exact workload and application by selecting from a broad family of systems built from its flexible and reusable building blocks that support a comprehensive set of form factors, processors, memory, GPUs, storage, networking, power, and cooling solutions (air-conditioned, free air cooling or liquid cooling).
The Freshfields capital markets team consisted of partners Sarah Solum and Phillip Stoup, counsels Jeffrey Gould and Tracy Zhang, associates Kimberly Wang, Katherine Kim, Alex Canahuate, Matt Deorocki and Jenny Ge. Restructuring advice was provided by partner Madlyn Primoff and counsel Henry Hutton. Strategic advice was provided by partner Boris Feldman. Structured products advice was provided by partner Brian Rance and senior associate Francesca Loreto. Credit advice was provided by partner Kyle Lakin and associate Nora McDonnell. Tax advice was provided by partner Steve Matays and counsel Jay Cosel. Investment Company Act advice was provided by counsel David Nicolardi.
