** Shares of Super Micro Computer SMCI.O up 2% at $29.87 on Thurs after amassing most of its targeted equity raise to meet surging demand

** SMCI early Thurs announced pricing public offerings of ~45.45 mln shares at $27.50 for $1.25 bln and $3.75 bln 7% 3-year mandatory convertible preferred stock

** SMCI's stock tumbled 28%, its steepest decline since Mar 20, to close at $29.27 on Weds after co late Tues said it was seeking $7 bln of equity to fulfill approx $39 bln of orders it received in recent weeks for its advanced AI servers from more than 20 customers

** Co anticipates starting $2 bln ATM (at-the-market) stock sales program no sooner than Q3

** JP Morgan, Goldman Sachs and Citigroup lead bookrunners for stock and mandatory offerings

** San Jose, California-based SMCI has ~601.4 mln shares outstanding for nearly $18 bln market cap

** Stock has lost about 35% this month, leaving it up roughly 2% YTD

** Avg rating of 21 analysts is "hold"; median PT $38.23, per LSEG data