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Applied Digital Corp designs, develops and operates next-generation datacenters across North America to provide digital infrastructure solutions to the rapidly growing high-performance computing industry. The company recently entered into a private financing agreement with a single investor where it issued a $42,131,579 unsecured convertible debenture. The debenture bears no interest and has a term of 54 weeks.
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Applied Digital Corporation (Nasdaq: APLD) extends negotiation period for datacenter capacity agreement at Ellendale campus until March 30, 2024.
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Applied Digital Corporation (APLD) secures a $16 million loan agreement for its 10MW Jamestown HPC data center campus. The loan, with a 5-year term, is from The Bank of North Dakota and Cornerstone Bank. The funding will support operations at the data center for hosting HPC/AI applications, showcasing strong banking relationships and commitment to digital infrastructure development.
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Applied Digital Corporation appoints Rachel H. Lee, an experienced investment executive, as an independent director to its Board of Directors. Lee brings significant finance and board experience to the company, having served in key roles at Ares Management Corporation and J.P. Morgan. Her appointment follows the resignations of two directors, Kelli McDonald and Virginia Moore.
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Applied Digital Corporation joins the AI Alliance to foster open innovation and responsible AI development. The company's CEO emphasizes the importance of collaboration for ethical and sustainable AI progress.
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Applied Digital Corporation (Nasdaq: APLD) secured a $20 million unsecured loan with a 12.5% interest rate to fund the buildout of its HPC data centers. The company also obtained $16 million in site-level financing for its Jamestown HPC facility. CFO David Rench expressed confidence in the company's growth trajectory.
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Applied Digital Corporation (APLD) has signed a conditional agreement to provide datacenter capacity at its Ellendale, North Dakota campus, with a total contract value of approximately $2.2 billion over a 10-year term, subject to finalization of definitive lease documents and securing project-level financing. This further validates the company's cost-effective high-performance compute solutions for High-Performance Computing (HPC) applications.
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Applied Digital Corporation (Nasdaq: APLD) reported a 16% sequential revenue growth, with total revenue of $42.2 million, net loss of $10.5 million, and adjusted EBITDA of $10.6 million for the fiscal second quarter ended November 30, 2023. The company is on track to reach 500 MW across its three hosting facilities and has entered into a conditional agreement to provide datacenter capacity. The company experienced a net decrease in cash, cash equivalents, and restricted cash during the six months ended November 30, 2023 of $8.9 million.
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Applied Digital Corporation (Nasdaq: APLD) will host a conference call on January 16, 2024, to discuss its operations and financial results from the fiscal second quarter ended November 30, 2023. The call will be broadcast live and a press release detailing the results will be issued before the market open on the same day.
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Applied Digital Corporation (Nasdaq: APLD) announced a long term Retail Electric Service Agreement with TerraForm Power for its 200-megawatt next-generation datacenter in Garden City, Texas. The facility directly interconnects with a Wind Farm owned by TerraForm Power. This partnership is a testament to Applied Digital's industry-leading digital infrastructure platform.
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Applied Digital Corporation (APLD) energizes 200MW facility in Garden City, Texas, marking a significant milestone in the company's growth efforts to meet the increasing demand for low-cost scalable digital infrastructure.
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FAQ
What is the current stock price of Applied Digital Corporation (APLD)?
The current stock price of Applied Digital Corporation (APLD) is $8.01 as of December 20, 2024.
What is the market cap of Applied Digital Corporation (APLD)?
The market cap of Applied Digital Corporation (APLD) is approximately 1.7B.
What does Applied Digital Corp do?
Applied Digital Corp designs, develops, and operates next-generation data centers.
What recent financing agreement did Applied Digital Corp enter into?
The company recently entered into a private financing agreement where it issued a $42,131,579 unsecured convertible debenture.
What is the focus of Applied Digital Corp's digital infrastructure solutions?
The company focuses on providing digital infrastructure solutions to the rapidly growing high-performance computing industry.
What is the term of the recently issued convertible debenture by Applied Digital Corp?
The convertible debenture has a term of 54 weeks.
Who are the Investor Relations Contacts for Applied Digital Corp?
Matt Glover or Alex Kovtun from Gateway Group, Inc. can be contacted at (949) 574-3860 or APLD@gateway-grp.com.
Who are the Media Contacts for Applied Digital Corp?
Brenlyn Motlagh or Diana Jarrah from Gateway Group, Inc. can be contacted at (949) 899-3135 or APLD@gateway-grp.com.
What is the conversion price for the note issued by Applied Digital Corp?
The conversion price for the note is the lower of $8.00 and 95% of the lowest daily volume weighted average price of the company’s common stock.
What limitation does the Investor have for converting the note issued by Applied Digital Corp?
Below $8.00, the Investor is limited to converting no more than $16.0 million per month in the aggregate across all convertible debentures held.
Can the company prepay the note issued by Applied Digital Corp?
The company may prepay the note at any time that the company’s common stock trades below $8.00 or the thirtieth trading day after the registration statement registering the resale of the note’s underlying shares becomes effective.
Who is CIM Group and what is their relation to Applied Digital Corp?
CIM Group is a leading investment firm and alternative asset manager with a focus on creating value in real estate and infrastructure projects. They are not directly related to Applied Digital Corp but provide valuable investment insights.
Applied Digital Corporation
Nasdaq:APLD
APLD Rankings
APLD Stock Data
1.70B
167.34M
20.76%
65.46%
18.24%
Information Technology Services
Services-computer Processing & Data Preparation
United States of America
DALLAS