11:03 AM EDT, 10/31/2024 (MT Newswires) -- Applied Digital ( APLD ) said Thursday that it priced its upsized offering of $375 million aggregate principal amount of 2.75% convertible senior notes due 2030 to qualified institutional buyers.

The company said it granted initial purchasers to purchase up to an additional $75 million aggregate principal amount of the notes. Applied Digital ( APLD ) expects to close the offering on Monday and said proceeds will be used to fund share repurchases and for general working capital.

Shares of Applied Digital ( APLD ) were down nearly 6% in recent trading.

Price: 6.93, Change: -0.43, Percent Change: -5.84