04:51 AM EDT, 03/20/2024 (MT Newswires) -- Super Micro Computer ( SMCI ) said late Tuesday it priced an underwritten public offering of 2 million common shares at $875 per share.

The gross proceeds are expected to total $1.75 billion, which the company said it plans to use to support ongoing operations and expand manufacturing capacity.

The company said it granted the underwriter a 30-day option to purchase up to an additional 300,000 shares. The offering is expected to close around Friday.