Applied Digital Expands Credit Facility, Increases Preferred Stock Cap
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Yesterday
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.
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