Private placement of common stock

Checked on September 17, 2026. The cited source supports every part of this claim.

The filing states that on September 5, 2024 Applied Digital agreed to sell 49,382,720 shares at $3.24 each, and that the placement closed with about $160 million in gross proceeds. The filing gives the closing only as of the report date (signed September 10), but the sale agreement itself is dated September 5.

Confirmed in the source:

• Applied Digital entered into a securities purchase agreement for a private placement on September 5, 2024
• The private placement covered 49,382,720 shares of common stock
• The purchase price was $3.24 per share
• The private placement closed with aggregate gross proceeds of approximately $160 million, before offering expenses

What we did: Read our cached copy of SEC EDGAR (https://www.sec.gov/Archives/edgar/data/1144879/000114487924000235/apld-20240905.htm) in full (8,574 characters, retrieved August 31, 2026) and checked each assertion in the claim against it.

confirms Applied Digital 8-K filed 2024-09-10

Quote: “On September 5, 2024, Applied Digital Corporation entered into a securities purchase agreement for the private placement of 49,382,720 shares at a purchase price of $3.24 per Share. As of the date of this report, the Private Placement closed with aggregate gross proceeds to the Company of approximately $160 million”

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