Intended use of proceeds for share repurchases
Company: Applied Digital
The claim, verbatim
Company intends to use approximately $84 million of net proceeds to fund share repurchases, including $52.7 million for prepaid forward repurchase cost and $31.3 million for direct share repurchases.
Source (primary)
Applied Digital 8-K filed 2024-11-05 (SEC EDGAR, sec_filing)
View cached copy (2026-08-31)Live source ↗
Quote: “The Company intends to use approximately $84 million of the net proceeds from the offering to fund share repurchases of the Company's common stock (the "common stock") in connection with the offering including (i) $52.7 million to fund the cost of entering into prepaid forward repurchase (as described below) and (ii) $31.3 million to repurchase shares of the common stock”
How we checked this
Additional evidence
confirms Applied Digital 8-K filed 2024-11-05
Quote: “The Company intends to use approximately $84 million of the net proceeds from the offering to fund share repurchases of the Company's common stock (the "common stock") in connection with the offering including (i) $52.7 million to fund the cost of entering into prepaid forward repurchase (as described below) and (ii) $31.3 million to repurchase shares of the common stock”