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Hardware - Thursday, March 29, 2007

SuperMicro Computer's IPO Not So Super. More Like Micro.

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Super Micro Computer raised $64M in its IPO that was priced well below a forecast range.

The offering of 8M shares sold for $8 per share, compared with its $9.50 - 11.50 forecast range, set by its underwriter led by Merrill Lynch. The shares trade on the Nasdaq under the symbol SMCI.

The San Jose-based company founded in 1993 has a market cap of $325.2M on revenues of $328M and net income of $18M.

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