Applied digital issues $53.2 million convertible preferred stock to advance hpc data center project and accelerate growth

Dallas, aug. 30, 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 it has entered into a private financing arrangement with a single investor (the “investor”), pursuant to which the company has issued $53.2 million in convertible preferred stock for net proceeds of $50 million.
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