Applied Digital announced plans to offer $300 million in convertible senior notes due 2030 to qualified institutional buyers, with an option for an additional $45 million. The company intends to use the proceeds for capped call transactions and to repurchase shares worth up to one-third of the notes' principal amount.The notes will be convertible into cash, shares, or a combination thereof. Applied Digital will enter into a prepaid forward stock purchase transaction and capped call transactions to manage potential dilution. These actions may impact the company's stock price and the notes' conversion price.The offering is subject to market conditions, and the notes will not be registered under the Securities Act. Applied Digital plans to use remaining proceeds for general corporate purposes.

Applied Digital announced plans to offer $300 million in convertible senior notes due 2030 to qualified institutional buyers, with an option for an additional $45 million. The company intends to use the proceeds for capped call transactions and to repurchase shares worth up to one-third of the notes' principal amount.The notes will be convertible into cash, shares, or a combination thereof. Applied Digital will enter into a prepaid forward stock purchase transaction and capped call transactions to manage potential dilution. These actions may impact the company's stock price and the notes' conversion price.The offering is subject to market conditions, and the notes will not be registered under the Securities Act. Applied Digital plans to use remaining proceeds for general corporate purposes.