** Applied Digital's shares down 5.1% to $6.98 on Thurs amid weakness in equities after co raises capital

** Wall Street selling off on Thurs as Meta, Microsoft warnings weigh, sending the Nasdaq down 2% ** Data center operator early Thurs announces pricing private offering of $375 mln 2.75% 6-yr convertible bonds

** Deal size increased form $300 mln; initial conversion price of $9.75 represents 32.5% premium to stock's last close

** Co plans to use ~$84 mln of net proceeds to fund share repurchases, ~$43 mln to pay for capped calls, rest for general purposes

** APLD has 215.4 mln shares outstanding, giving it market cap of ~$1.5 bln ** Earlier this month, co reported qtrly rev up 67% y/y to $60.7 mln, smaller-than-expected adj loss, and named new CFO

** With move on Thurs, stock up ~4% YTD after more than tripling in 2023

(Lance Tupper is a Reuters market analyst. The views expressed are his own) ((lance.tupper@thomsonreuters.com lance.tupper@tr.com 1-646-279-6380))