Super Micro amends facility to waive default, negotiates new facility

By Sarah Lizee

Olympia, Wash., March 13 – Super Micro Computer, Inc. amended its existing loan agreement with Bank of America Merrill Lynch to waive the default arising from the company having not yet filed its 2017 annual report on form 10-K and quarterly reports on form 10-Q for the quarters ended Sept. 30 and Dec. 31, provided that no additional defaults occur.

The amendment also requires that the company refinance its obligations under the loan agreement by April 20, according to a press release.

Super Micro is in negotiations with respect to a new debt facility to refinance its existing debt obligations under the loan agreement. The new debt facility, to be led by Bank of America Merrill Lynch, is expected to also include other lenders and increase the company’s borrowing capacity.

Super Micro is a San Jose, Calif.-based server, storage technology and green computing company.

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