05:51 AM EST, 02/12/2025 (MT Newswires) -- Super Micro Computer ( SMCI ) said late Tuesday it agreed to sell $700 million aggregate principal amount of 2.25% convertible senior notes due 2028 in a private placement to existing debtholders.

Net proceeds will be used for general corporate purposes, the company said.

The subscription agreement is expected to close on or about Feb. 20, subject to customary closing conditions.

The debtholders also agreed to amend certain terms of the company's existing 0.00% convertible senior notes due 2029, raising the annual interest rate to 3.5% and adjusting the conversion price.