Applied Digital Corporation Announces Upsize and Pricing of $375 Million of Convertible Notes Offering
Applied Digital Corporation (APLD)
Company Research
Source: GlobeNewswire
DALLAS, Oct. 31, 2024 (GLOBE NEWSWIRE) -- Applied Digital Corporation (Nasdaq: APLD) (“Applied Digital” or the “Company”), a designer, builder, and operator of next-generation digital infrastructure designed for High-Performance Computing (HPC) applications, today announced the upsize and pricing of its offering of $375 million aggregate principal amount of 2.75% Convertible Senior Notes due 2030 (the “Convertible Notes”). The Convertible Notes will be sold in a private offering to persons reasonably believed to be qualified institutional buyers in reliance on Rule 144A under the Securities Act of 1933, as amended (the “Securities Act”). Key Elements of the Transaction: $375 million 2.75% Convertible Notes offering (32.5% conversion premium)Capped call transactions entered into in connection with the pricing of Convertible Notes due 2030 with an initial cap price of $14.72 per share of common stock, which represents a 100% premium to the closing sale price of Applied Digital’s
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News
- Applied Digital Corporation Announces Proposed Private Offering of $300 Million of Convertible NotesGlobeNewswire
- Applied Digital Co. (NASDAQ: APLD) had its "buy" rating re-affirmed by analysts at Needham & Company LLC. They now have a $11.00 price target on the stock.MarketBeat
- Applied Digital Co. (NASDAQ: APLD) had its price target raised by analysts at HC Wainwright from $5.00 to $10.00. They now have a "buy" rating on the stock.MarketBeat
- Applied Digital Co. (NASDAQ: APLD) had its price target raised by analysts at Lake Street Capital from $7.00 to $11.00. They now have a "buy" rating on the stock.MarketBeat
- Applied Digital Co. (NASDAQ: APLD) had its "buy" rating re-affirmed by analysts at Roth Mkm. They now have a $10.00 price target on the stock.MarketBeat
APLD
Earnings
- 10/9/24 - Beat
APLD
Sec Filings
- 10/31/24 - Form 8-K
- 10/30/24 - Form 8-K
- 10/29/24 - Form S-1/A
- APLD's page on the SEC website