Applied Digital has successfully completed its private offering of 2.75% Convertible Senior Notes due 2030, raising $450 million, including $75 million from the initial purchasers' fully exercised option. The notes were issued at 100% of principal amount, generating net proceeds of approximately $434.5 million after deducting costs and commissions.The company plans to allocate $84 million for share repurchases, including $52.7 million for prepaid forward repurchase and $31.3 million for direct stock buybacks. Additionally, $51.8 million will fund capped call transactions with a cap price of $14.72, representing a 100% premium over the last trading price. The remaining proceeds will be used for general corporate purposes.The notes, convertible into cash, shares, or a combination thereof, have an initial conversion rate of 102.5431 shares per $1,000 principal amount, equivalent to approximately $9.75 per share. Interest will be paid semiannually at 2.75%, with maturity set for June 1, 2030. The company may redeem the notes after December 1, 2027, subject to certain conditions.

Applied Digital has successfully completed its private offering of 2.75% Convertible Senior Notes due 2030, raising $450 million, including $75 million from the initial purchasers' fully exercised option. The notes were issued at 100% of principal amount, generating net proceeds of approximately $434.5 million after deducting costs and commissions.The company plans to allocate $84 million for share repurchases, including $52.7 million for prepaid forward repurchase and $31.3 million for direct stock buybacks. Additionally, $51.8 million will fund capped call transactions with a cap price of $14.72, representing a 100% premium over the last trading price. The remaining proceeds will be used for general corporate purposes.The notes, convertible into cash, shares, or a combination thereof, have an initial conversion rate of 102.5431 shares per $1,000 principal amount, equivalent to approximately $9.75 per share. Interest will be paid semiannually at 2.75%, with maturity set for June 1, 2030. The company may redeem the notes after December 1, 2027, subject to certain conditions.