Welcome to our dedicated page for Applied Digital news (Ticker: APLD), a resource for investors and traders seeking the latest updates and insights on Applied Digital stock.
Applied Digital Corporation (APLD) is a leading provider of next-generation data center solutions and cloud services powering high-performance computing (HPC), AI, and blockchain technologies. This dedicated news hub offers investors and industry professionals direct access to official company announcements and market-relevant updates.
Discover timely press releases covering APLD's data center expansions, cloud service innovations, and strategic partnerships. Our curated collection includes earnings reports, operational milestones, and technology deployments across its core segments: hyperscale data center hosting, GPU-accelerated cloud solutions, and energy-efficient infrastructure developments.
Bookmark this page to track APLD developments in critical areas including AI-ready data center design, HPC hosting advancements, and sustainable digital infrastructure solutions. Stay informed through verified updates that matter for understanding the company's position in high-growth tech sectors.
Applied Digital (Nasdaq: APLD) has secured $125 million in private financing with an option to expand up to $200 million, aimed at funding the construction of its High-Performance Computing (HPC) data center in Ellendale, ND. The deal, backed by CIM Group, includes a promissory note with a 12% annual interest rate and a three-year term. The agreement also issues warrants for 6,300,449 shares at a strike price of $4.8005, with an additional 2,964,917 shares potentially available. The funds will help Applied Digital finalize its data center buildout, positioning it as a leader in digital infrastructure for AI.
On May 24, 2024, Applied Digital announced a $42.1 million unsecured convertible debenture to advance its HPC data center project in Ellendale, North Dakota. The debenture bears no interest, has a 5% original issue discount, and a 54-week term. Its conversion price is the lower of $8.00 or 95% of the lowest daily volume-weighted average price during the five days before conversion. If below $8.00, conversion is capped at $16 million per month. The debenture is prepayable if the stock trades below $8.00. The proceeds will finance construction advancements, with the Investor agreeing not to short the stock. Legal counsel was provided by Lowenstein Sandler LLP.
Applied Digital (Nasdaq: APLD) announced its participation in multiple upcoming investor conferences, including the 19th Annual Needham Technology & Media Conference, 24th Annual B. Riley Institutional Investor Conference, and 21st Annual Craig-Hallum Institutional Investor Conference. The company will present at these events and hold one-on-one meetings with investors, showcasing its next-generation digital infrastructure designed for High-Performance Computing (HPC) applications.
Applied Digital (Nasdaq: APLD) announced the appointment of Todd Gale as Chief Development Officer. Gale, with over 45 years of industry experience, will lead the company's datacenter design strategy, focusing on liquid cooling systems, power systems design, and data hall infrastructure at the company's HPC datacenter campus in Ellendale, North Dakota.
Applied Digital (Nasdaq: APLD) appoints Ella Benson as an independent director on its Board of Directors, effective May 6, 2024. Benson, with over a decade of experience in financial services, will also serve as the Chairperson of the Nominating and Governance Committee. Her appointment is part of a Cooperation and Standstill Agreement with Oasis Management Company. The agreement includes restrictions on Oasis' stock ownership and activities during Benson's tenure on the Board.
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