Applied Digital Prices Upsized $375 Million Notes Offering

MT Newswires Live

2024/10/31

Applied Digital (APLD) said Thursday that it priced its upsized offering of $375 million aggregate principal amount of 2.75% convertible senior notes due 2030 to qualified institutional buyers.

The company said it granted initial purchasers to purchase up to an additional $75 million aggregate principal amount of the notes. Applied Digital expects to close the offering on Monday and said proceeds will be used to fund share repurchases and for general working capital.

Shares of Applied Digital were down nearly 6% in recent trading.

Price: 6.93, Change: -0.43, Percent Change: -5.84

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