Applied Digital Announces Agreement to Sell Garden City Campus to Marathon Digital Holdings
Applied Digital Corporation (APLD)
Company Research
Source: GlobeNewswire
• Divestiture Reflects Strategy to Focus on Strategic HPC Sites in North Dakota • Redirects Resources and Strengthens Balance Sheet DALLAS, March 15, 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 that it has entered into a definitive agreement to sell its 200 megawatt ("MW") campus in Garden City, TX to Marathon Digital Holdings (Nasdaq: MARA) (“Marathon”) for a net purchase price of approximately $87.3 million, with a gross purchase price of $97.3 million after adjustments contemplated in the purchase agreement. In addition to the purchase price, this transaction will release $12 million of restricted cash previously committed as collateral for the site's letter of credit. The transaction is subject to customary closing conditions and is expected to close in the secon
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APLD
News
- Applied Digital Co. (NASDAQ: APLD) had its price target lowered by analysts at Lake Street Capital from $19.00 to $7.00. They now have a "buy" rating on the stock.MarketBeat
- Applied Digital Co. (NASDAQ: APLD) had its price target lowered by analysts at Roth Mkm from $13.00 to $8.00. They now have a "buy" rating on the stock.MarketBeat
- Applied Digital Co. (NASDAQ: APLD) had its price target lowered by analysts at Needham & Company LLC from $13.00 to $11.00. They now have a "buy" rating on the stock.MarketBeat
- Applied Digital Reports Fiscal Third Quarter 2024 ResultsGlobeNewswire
- Applied Digital Reschedules Fiscal Third Quarter 2024 Earnings Conference Call to Thursday, April 11, 2024 at 5:00 p.m. Eastern TimeGlobeNewswire
APLD
Earnings
- 4/11/24 - Miss
APLD
Sec Filings
- 4/24/24 - Form EFFECT
- 4/23/24 - Form 424B3
- 4/15/24 - Form S-3
- APLD's page on the SEC website