Use of proceeds for share repurchase
Company: Applied Digital
The claim, verbatim
Company intends to use approximately $31.3 million of net proceeds to repurchase shares of common stock
Source (primary)
Applied Digital 8-K filed 2024-10-31 (SEC EDGAR, sec_filing)
View cached copy (2026-08-31)Live source ↗
Quote: “approximately $31.3 million to repurchase shares of its common stock”
How we checked this
Checked on September 17, 2026. The cited source supports every part of this claim.
The filing lists approximately $31.3 million for repurchasing common stock. This appears in the same sentence that describes how the net proceeds from the notes will be used.
Confirmed in the source:
- The company intends to use approximately $31.3 million of the offering's net proceeds
- That amount is to repurchase shares of its common stock
What we did: Read our cached copy of SEC EDGAR (https://www.sec.gov/Archives/edgar/data/1144879/000149315224043119/form8-k.htm) in full (4,622 characters, retrieved August 31, 2026) and checked each assertion in the claim against it.
Additional evidence
confirms Applied Digital 8-K filed 2024-10-31
Quote: “approximately $31.3 million to repurchase shares of its common stock”