Applied Digital (APLD) said Friday its unit modified an existing financing package to expand its total revolving credit commitments to $430 million.

The updated credit facility matures on May 28, 2029, and permits the business to potentially expand the total borrowing capacity up to $550 million, the company said.

Separately, the company amended its preferred equity purchase deal to raise the total commitment for issuing Series G convertible preferred stock from $1.59 billion to $2 billion, Applied Digital said.

Shares of the company were up 2.5% in Monday premarket trading.