Applied Digital Issues $50 Million Unsecured Convertible Debenture to Advance HPC Data Center Project in Ellendale, North Dakota
Applied Digital Corporation (APLD)
Company Research
Source: GlobeNewswire
DALLAS, April 01, 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, announced that the Company recently entered into a private financing agreement with a single investor (the “Investor”), in which it issued a $50 million unsecured convertible debenture. The convertible debenture bears no interest, has an original issue discount of five percent and has a term of 54 weeks. The conversion price for the note is the lower (a) $6.00 and (b) 95% of the lowest daily volume weighted average price of the Company’s common stock during the five trading days immediately prior to the date of conversion, subject to a floor price of $3.00, except that the Investor may, at its option, elect to use the $6.00 fixed conversion price. The Investor is limited to converting no more than $9.0 million per month, and
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News
- Applied Digital Co. (NASDAQ: APLD) had its "buy" rating re-affirmed by analysts at Needham & Company LLC. They now have a $15.00 price target on the stock.MarketBeat
- Applied Digital Announces Upcoming Conference ParticipationGlobeNewswire
- Applied Digital Co. (NASDAQ: APLD) had its price target lowered by analysts at B. Riley from $8.00 to $6.00. They now have a "buy" rating on the stock.MarketBeat
- Applied Digital Announces Appointment of Datacenter Industry Expert Todd Gale as Chief Development OfficerGlobeNewswire
- Applied Digital Appoints Ella Benson to Board of DirectorsGlobeNewswire
APLD
Earnings
- 4/11/24 - Miss
APLD
Sec Filings
- 5/17/24 - Form EFFECT
- 5/17/24 - Form 424B5
- 5/17/24 - Form 8-K
- APLD's page on the SEC website