PIPE common stock offering
Company: Applied Digital
What the later record shows
Not a promise: a reported event · happened September 9, 2024
The claim, made on 2024-10-22, reports a closing that had already happened on September 9, 2024. Later 10-Qs confirm the roughly $160 million private placement closed.
“During the quarter ended November 30, 2024, the Private Placement closed with aggregate gross proceeds to the Company of approximately $ 160 million”
2025-01-13 · Applied Digital 10-Q filed 2025-01-14 View cached copy (2026-08-31)Live source ↗
Checked October 9, 2026 against filings, releases and reporting published after the claim was made. Quotes are verbatim from the linked documents.
The claim, verbatim
Private placement of 49,382,720 shares of Common Stock at $3.24 per share closed September 9, 2024, generating approximately $160 million in gross proceeds
Source (primary)
Applied Digital S-1 filed 2024-10-23 (SEC EDGAR, sec_filing)
View cached copy (2026-08-31)Live source ↗
Quote: “On September 5, 2024, we entered into a securities purchase agreement (the "PIPE Purchase Agreement") with the purchasers named therein (the "PIPE Purchasers"), for the private placement of 49,382,720 shares of the Company's Common Stock, at a purchase price of $3.24 per share. The private placement closed on September 9, 2024, with aggregate gross proceeds to the Company of approximately $160 million, before deducting offering expenses.”
How we checked this
Checked on October 10, 2026. The cited source supports every part of this claim.
The filing states that the PIPE private placement of 49,382,720 common shares at $3.24 per share closed on September 9, 2024, with gross proceeds of about $160 million.
Confirmed in the source:
- The private placement covered 49,382,720 shares of Common Stock
- The purchase price was $3.24 per share
- The private placement closed on September 9, 2024
- Aggregate gross proceeds were approximately $160 million
What we did: Read our cached copy of SEC EDGAR (https://www.sec.gov/Archives/edgar/data/1144879/000149315224042178/forms-1.htm) in full (127,290 characters, retrieved August 31, 2026) and checked each assertion in the claim against it.
Additional evidence
confirms Applied Digital S-1 filed 2024-10-23
Quote: “On September 5, 2024, we entered into a securities purchase agreement (the "PIPE Purchase Agreement") with the purchasers named therein (the "PIPE Purchasers"), for the private placement of 49,382,720 shares of the Company's Common Stock, at a purchase price of $3.24 per share. The private placement closed on September 9, 2024, with aggregate gross proceeds to the Company of approximately $160 million, before deducting offering expenses.”