PIPE Private Placement
Company: Applied Digital
The claim, verbatim
Private placement of 49,382,720 shares of Common Stock at $3.24 per share for aggregate gross proceeds of approximately $160 million
Source (primary)
Applied Digital S-1/A filed 2024-10-29 (SEC EDGAR, sec_filing)
View cached copy (2026-08-31)Live source ↗
Quote: “The private placement closed on September 9, 2024, with aggregate gross proceeds to us of approximately $160 million, before deducting offering expenses.”
How we checked this
Checked on September 17, 2026. The cited source supports every part of this claim.
The filing states that the September 5, 2024 PIPE covered 49,382,720 shares at $3.24 per share. It also states that the placement closed with gross proceeds of approximately $160 million.
Confirmed in the source:
- Applied Digital entered into a private placement (PIPE) of 49,382,720 shares of Common Stock
- The purchase price was $3.24 per share
- Aggregate gross proceeds were approximately $160 million
What we did: Read our cached copy of SEC EDGAR (https://www.sec.gov/Archives/edgar/data/1144879/000149315224042927/forms-1a.htm) in full (173,807 characters, retrieved August 31, 2026) and checked each assertion in the claim against it.
Additional evidence
confirms Applied Digital S-1/A filed 2024-10-29
Quote: “The private placement closed on September 9, 2024, with aggregate gross proceeds to us of approximately $160 million, before deducting offering expenses.”