Applied Digital Corporation (NasdaqGS:APLD) announces a share repurchase program. Under the program, the company will repurchase up to $31.3 million worth of its shares, at a price of $7.36 per share. The source of funding for the repurchase will be from the net proceeds of the offering of $375 million Convertible Senior Notes.

The repurchase is part of the company's strategy to manage its capital structure and enhance shareholder value.