Applied Digital Issues $53.2 Million Convertible Preferred Stock to Advance HPC Data Center Project and Accelerate Growth
Applied Digital Corporation (APLD)
Company Research
Source: GlobeNewswire
DALLAS, Aug. 30, 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 it has entered into a private financing arrangement with a single investor (the “Investor”), pursuant to which the Company has issued $53.2 million in convertible preferred stock for net proceeds of $50 million. “We are pleased to announce this transaction, which furthers our vision and supports key growth initiatives across our business,” said Wes Cummins, Chairman and CEO of Applied Digital. “We believe this additional capital will help us to accelerate our expansion plans and keep our current Ellendale HPC buildout on track as we finalize our long-term, hyperscaler lease, further solidifying our position as a leading owner and operator of purpose-built data centers to help drive the AI revolution.” The
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APLD
News
- Applied Digital Corporation Announces Closing of $450 Million of Convertible Notes OfferingGlobeNewswire
- 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 Corporation Announces Upsize and Pricing of $375 Million of Convertible Notes OfferingGlobeNewswire
- 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
APLD
Earnings
- 10/9/24 - Beat
APLD
Sec Filings
- 11/22/24 - Form 4
- 11/22/24 - Form S-1/A
- 11/21/24 - Form 4/A
- APLD's page on the SEC website