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Benzinga

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Henry Khederian

Super Micro Computer (SMCI) Stock Is Surging Today: What's Going On?

SMCI Super Micro Super Micro Computer

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Super Micro Computer Inc (NASDAQ:SMCI) shares are trading higher Wednesday afternoon. The company on Tuesday announced the pricing of its $2 billion convertible senior notes due 2030. Shares are recovering from a near 10% drop on Monday, when the initial debt proposal triggered investor concerns about potential stock dilution.

What To Know: In the Tuesday announcement, the company detailed its plans to limit that dilution. Super Micro is using a portion of the proceeds for capped call transactions, which effectively limit the number of shares to be issued.

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