Applied Digital Announces $160 Million Strategic Financing, Fueling Transformative Accelerated Compute and AI Infrastructure
2024年9月5日 - 10:00PM
Applied Digital Corporation (Nasdaq: APLD) (“Applied Digital” or
the “Company”), a designer, builder, and operator of
next-generation digital infrastructure designed for
High-Performance Computing (HPC) applications, today announced that
it has entered into definitive agreements for a $160 million
private placement financing priced at market, from a group of
institutional and accredited investors, NVIDIA and Related
Companies, the most prominent privately-owned real estate company
and leader in complex infrastructure and data center development.
This strategic financing underscores Applied Digital's position as
a trusted pioneer in the accelerated compute space.
With this added capital, Applied Digital is
further strengthening its financial position to bring its
transformative data center and GPU cloud solutions to market at
scale. These solutions — supported by the company’s deep bench of
hyperscale talent, specialized access to a robust and immediately
available pipeline of stranded power, and use of advanced
infrastructure technologies such as closed-loop liquid cooling —
are poised to deliver a proprietary, purpose-built, hyper-efficient
platform for the world’s most advanced HPC and AI workloads. Among
these projects are the company’s current build-out of one of the
world’s largest data centers and development of an additional 300MW
of data center capacity.
Applied Digital, already a Preferred NVIDIA
Cloud Partner, remains on the leading edge of data center and cloud
computing advancements.
As a leading digital infrastructure developer
focused on keeping pace with GPU innovation delivered by leaders
like NVIDIA, Applied Digital continues to establish its place as a
singular source of significant scale, flexibility, security, and
power in a traditionally constrained national market.
“Applied Digital was built on its ability to
identify market demands, and we believe our collective philosophy,
technical expertise, and long-standing industry experience have
brought us to our current place of strength that will carry us and
our hyperscale customers securely into the AI and HPC future,”
notes Wes Cummins, CEO and Chairman at Applied Digital. “We’re
proud of our strong relationship with NVIDIA, and the confidence
that both they and Related Companies, along with institutional
investors, have placed in us. Our team is eager to bring to market
the vital capacity and contiguous, liquid-cooled IT environments
that are tailor-made for AI, HPC, and other accelerated compute
workloads.”
In the private placement, Applied Digital agreed
to issue 49,382,720 shares of its common stock at a price per share
of $3.24, representing the last closing price on September 4, 2024.
The closing of the private placement is subject to customary
closing conditions. Additional details regarding the private
placement will be included in a Form 8-K to be filed by Applied
Digital with the Securities and Exchange Commission.
The securities described above have not been
registered under the Securities Act of 1933, as amended, and may
not be offered or sold in the United States absent registration or
an applicable exemption from registration requirements. The company
has agreed to file a resale registration statement with the SEC for
purposes of registering the resale of the shares of common stock
described above.
This press release shall not constitute an offer
to sell or the solicitation of an offer to buy, nor may there be
any sale of any securities in any state or jurisdiction in which
such offer, solicitation or sale would be unlawful prior to
registration or qualification under the securities laws of any such
state or jurisdiction.
Goldman Sachs & Co. LLC is serving as
exclusive placement agent and Lowenstein Sandler LLP is serving as
legal adviser to Applied Digital in connection with the private
placement.
About Applied Digital
Applied Digital (Nasdaq: APLD) designs,
develops, and operates next-generation data centers across North
America to provide digital infrastructure solutions to the rapidly
growing high-performance computing (HPC) industry. The company also
offers large-scale accelerated computing solutions through its AI
Cloud offering. Find more information at www.applieddigital.com.
Follow us on X (formerly Twitter) at @APLDdigital.
Forward-Looking Statements
This release contains "forward-looking
statements" as defined in the Private Securities Litigation Reform
Act of 1995 regarding, among other things, future operating and
financial performance, product development, market position,
business strategy and objectives. These statements use words, and
variations of words, such as “continue,” “build,” “future,”
“increase,” “drive,” “believe,” “look,” “ahead,” “confident,”
“deliver,” “outlook,” “expect,” “intend,” “hope,” “remain,”
“project” and “predict.” Other examples of forward-looking
statements may include, but are not limited to, (i) statements of
Company plans and objectives, including advancement in our
construction phase of the HPC data center in Ellendale, North
Dakota, our evolving business model and a shift in our business
strategy towards our HPC data centers, or estimates or predictions
of actions by suppliers, (ii) statements of future economic
performance, and (iii) statements of assumptions underlying other
statements and statements about the Company or its business. You
are cautioned not to rely on these forward-looking statements.
These statements are based on current expectations of future events
and thus are inherently subject to uncertainty. If underlying
assumptions prove inaccurate or known or unknown risks or
uncertainties materialize, actual results could vary materially
from the Company's expectations and projections. These risks,
uncertainties, and other factors include: decline in demand for our
products and services; the volatility of the crypto asset industry;
the inability to comply with developments and changes in
regulation; cash flow and access to capital; and maintenance of
third-party relationships. Information in this release is as of the
dates and time periods indicated herein, and the Company does not
undertake to update any of the information contained in these
materials, except as required by law.
Investor Relations Contacts
Matt Glover or Ralf Esper Gateway Group, Inc. (949)
574-3860APLD@gateway-grp.com
Media Contact Brenlyn Motlagh
Gateway Group, Inc. (949) 899-3135APLD@gateway-grp.com
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