Applied Digital Secures Final $25 Million from Garden City Facility Sale
30 Julio 2024 - 3:40PM
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, announced today that
it has met the conditional approval requirements related to the
release of the escrowed funds from the sale of its Garden City,
Texas facility. The Company has now received the remaining $25
million of the purchase price held in escrow pending such
conditional approval.
“Our ability to meet the conditional approval
requirements reflects our commitment to operational excellence and
financial discipline,” said David Rench, CFO of Applied Digital.
“Receiving the remaining $25 million of the purchase price from the
Garden City facility sale will help strengthen our balance sheet
and support our ongoing growth initiatives.”
We believe Applied Digital is well positioned,
offering cutting-edge solutions in data centers and Cloud as a
Service. The Company’s purpose-built data centers are being
strategically designed to maximize efficiency for HPC needs.
Applied Digital Cloud aims to deliver cost-effective GPU compute
solutions tailored for AI, ML, rendering, and other HPC workloads.
We believe the Company’s state-of-the-art infrastructure is
designed to provide high performance at a low cost, aiming to
empower clients to thrive in this era of exponential technological
advancement.
To learn more about Applied Digital, visit:
https://applieddigital.com/
About Applied DigitalApplied 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. Find more
information at www.applieddigital.com. Follow us on X at
@APLDdigital.
Forward-Looking Statements
This release may contain "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 and
business strategy and objectives. Words such as "continue,"
"build," "future," "increase," "drive," "believe," "look," "ahead,"
"confident," "deliver," "outlook," "expect," “intend,” “hope,”
“project, ”"predict" and other similar or related expressions are
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forward-looking statements contain these words. You should not
place undue reliance on forward-looking statements because they
involve known and unknown risks, uncertainties, and assumptions
that are difficult or impossible to predict and, in some cases,
beyond the Company's control. Actual results may differ materially
from those in the forward-looking statements as a result of a
number of factors, including those described in the Company's
filings with the Securities and Exchange Commission. The Company
undertakes no obligation to revise or update information in this
release to reflect events or circumstances in the future, even if
new information becomes available.
Investor Relations ContactsMatt Glover or Ralf Esper Gateway
Group, Inc. (949) 574-3860 APLD@gateway-grp.com
Media ContactsChristina Lockwood or Brenlyn Motlagh Gateway
Group, Inc. (949) 899-3135 APLD@gateway-grp.com
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