BUZZ-Super Micro Computer dips after pricing of convertible notes
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Shares of Super Micro Computerdropped 6.2% premarket after pricing convertible notes. The server component maker announced a private offering of $1.5 billion 5-yr convertible bonds to fund growth and expansion. SMCI's initial conversion price represents a 37.5% premium to the stock's close on Thursday. The company has surged 243% in 2024, benefiting from the AI boom. SMCI's valuation stands at $54.6 billion as of Thursday's close.
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