Applied Digital - APLD STOCK NEWS

Applied Digital (APLD) has announced the pricing of $375 million of 2.75% Convertible Senior Notes due 2030. The notes will be convertible into cash, shares, or a combination thereof at an initial conversion price of $9.75 per share, representing a 32.5% premium to the closing price. The company expects net proceeds of approximately $361.8 million.

The company plans to use $84 million for share repurchases, $43.1 million for capped call transactions, and the remainder for general corporate purposes. The notes will mature on June 1, 2030, with interest payable semi-annually at 2.75%. The company has also entered into capped call transactions with a cap price of $14.72 per share.

Applied Digital (Nasdaq: APLD) announced plans to offer $300 million in convertible senior notes due 2030 through a private offering to qualified institutional buyers. The company may grant initial purchasers an option for an additional $45 million. The notes will be convertible into cash, common stock, or a combination thereof. Applied Digital plans to use proceeds to fund capped call transactions, repurchase common stock up to one-third of the notes' principal amount, and for general corporate purposes. The notes will mature on June 1, 2030, with interest payable semi-annually starting June 1, 2025.

Applied Digital (Nasdaq: APLD) reported financial results for the fiscal first quarter ended August 31, 2024. Key highlights include:

- Revenues of $60.7 million, up 67% from the prior year period
- Net loss of $4.2 million, or $0.03 per basic and diluted share
- Adjusted EBITDA of $20.0 million

The company recently secured a $160 million private placement financing from institutional investors, NVIDIA, and Related Companies. Applied Digital is finalizing a lease agreement with a U.S.-based hyperscaler for its 100 MW facility under construction and plans to expand its Ellendale HPC Campus to 400 MW capacity.

The Cloud Services Business segment contributed $25.9 million in revenues. The company's data centers in Jamestown and Ellendale, North Dakota are operating at full capacity.

Applied Digital (Nasdaq: APLD), a company specializing in digital infrastructure for High-Performance Computing (HPC) applications, has announced its upcoming fiscal first quarter 2025 earnings conference call. The call is scheduled for Wednesday, October 9, 2024, at 5:00 p.m. Eastern Time.

The company will release a press release detailing its financial results for the quarter ended August 31, 2024, after the market closes on the same day. The conference call will feature prepared remarks from Applied Digital management, followed by a question-and-answer session.

Interested parties can join the call using the provided U.S. and international dial-in numbers. A live broadcast and replay of the call will also be available. For those unable to attend, a replay will be accessible until October 23, 2024.

Applied Digital (Nasdaq: APLD) has secured a $160 million strategic financing through a private placement, priced at market, from institutional and accredited investors, including NVIDIA and Related Companies. This investment validates Applied Digital's innovation in the accelerated compute space and will fuel the company's expansion of data center and GPU cloud solutions.

As a Preferred NVIDIA Cloud Partner, Applied Digital is positioned to deliver a proprietary, hyper-efficient platform for advanced HPC and AI workloads. The company is currently building one of the world's largest data centers and developing an additional 300MW of data center capacity. The financing will support these projects and strengthen Applied Digital's position in the market for AI and HPC infrastructure.

Applied Digital (Nasdaq: APLD) has secured $53.2 million in convertible preferred stock from a single investor, netting $50 million in proceeds. The company, which specializes in digital infrastructure for High-Performance Computing (HPC) applications, plans to use the funds to accelerate growth initiatives and support its Ellendale HPC data center project. The preferred stock, with a stated value of $1,000 per share and 8% interest rate, will be convertible to common stock at $7.00 per share upon shareholder approval. This conversion price represents an 80% premium over Applied Digital's current stock price. Wes Cummins, Chairman and CEO, expressed confidence that this capital infusion will help solidify the company's position in the AI-driven data center market.

Applied Digital (Nasdaq: APLD) reported financial results for fiscal Q4 and full year 2024 ended May 31, 2024. Highlights include:

- Fiscal 2024 revenue: $165.6 million (199% increase YoY)
- Fiscal 2024 net loss: $149.7 million
- Fiscal 2024 adjusted EBITDA: $24.5 million
- Q4 2024 revenue: $43.7 million (98% increase YoY)
- Q4 2024 net loss: $64.8 million
- Q4 2024 adjusted EBITDA: $4.8 million

The company secured over $150 million in funding post-fiscal year end and restored its Ellendale Data Center Hosting facility to full capacity. Applied Digital is expanding its Cloud Services business and executed an LOI with a U.S.-based hyperscaler for 400 MW capacity.

Applied Digital (Nasdaq: APLD) has appointed Gary Smith as its new Senior Director of Physical Security. With over 40 years of experience in law enforcement and corporate security, Smith will oversee all aspects of physical safety at Applied Digital, including security services, access control, and systems technology. Smith joins from Digital Realty, where he served as Vice President of Portfolio Security, Compliance, and Business Continuity.

CEO Wes Cummins expressed confidence that Smith's extensive experience and track record will be invaluable in reinforcing safety measures and maintaining high standards of protection and reliability. Smith holds multiple advanced degrees and certifications in security and technology fields. Applied Digital, a designer and operator of next-generation digital infrastructure for HPC applications, aims to leverage Smith's expertise to enhance the protection and integrity of its facilities.

Applied Digital (Nasdaq: APLD), a company specializing in next-generation digital infrastructure for High-Performance Computing applications, has announced its upcoming fiscal fourth quarter and full year 2024 conference call. The call is scheduled for Wednesday, August 28, 2024, at 5:00 p.m. Eastern Time.

A press release detailing the company's operating and financial results will be issued after market close on the same day. The conference call will feature prepared remarks from Applied Digital management, followed by a question-and-answer session. Participants can join via U.S. or International dial-in numbers, and a live broadcast will be available for replay.