Server maker Microcomputer (SMCI.US) was down 12% on Monday, with reports saying the company has hired investment bank Evercore ISI to help it raise equity and debt capital.
Bloomberg reports that it is being ultra-cautious about raising equity and debt to avoid delisting after missing the deadline for filing annual financial reports. THE COMPANY IS WEIGHING POTENTIAL PRIVATE INVESTMENT IN PUBLIC EQUITY (PIPE) AND IS ENGAGING WITH PRIVATE EQUITY FIRMS TO ASSESS THEIR INTEREST IN PARTICIPATING.