On Oct 28, Super Micro Computer Entered Third Amendment To Loan Agreement With Cathay Bank; Amendment Requires Company To Maintain $150M Unrestricted Cash; Amendment Extends Deadline To Deliver FY Audited Financial Statements Under Loan Agreement To Dec 31
Portfolio Pulse from Benzinga Newsdesk
Super Micro Computer, Inc. has amended its loan agreement with Cathay Bank, extending deadlines for financial statement submissions and adding a requirement to maintain $150 million in unrestricted cash.
November 01, 2024 | 8:45 pm
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Super Micro Computer has amended its loan agreement with Cathay Bank, extending deadlines for financial statements and requiring $150M in unrestricted cash.
The amendment to the loan agreement provides Super Micro Computer with more time to deliver its financial statements, which could ease short-term financial pressure. However, the requirement to maintain $150M in unrestricted cash could limit the company's liquidity flexibility. The overall impact on the stock price is likely neutral as the changes provide both benefits and constraints.
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