Applied Digital Announced The Upsize And Pricing Of Its Offering Of $375M 2.75% Convertible Senior Notes Due 2030
Portfolio Pulse from Benzinga Newsdesk
Applied Digital announced the upsize and pricing of its $375 million 2.75% Convertible Senior Notes due 2030, with a 32.5% conversion premium. The company also initiated share repurchase programs totaling approximately $84 million. The offering is expected to close on November 4, 2024.
October 31, 2024 | 10:08 am
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Applied Digital has announced a $375 million offering of 2.75% Convertible Senior Notes due 2030, with a 32.5% conversion premium. The company also plans share repurchase programs totaling $84 million.
The announcement of a significant convertible notes offering and share repurchase programs is likely to positively impact Applied Digital's stock price in the short term. The conversion premium and share buybacks indicate confidence in the company's future performance.
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