Applied Digital Corporation (NASDAQ:APLD) has entered into a sales agreement with several firms—including B. Riley Securities and BTIG—which allows the company to sell up to $125 million in shares.

The agreement, effective July 9, 2024, was disclosed in an SEC filing with the information on terms for the sale of common stock on the Nasdaq Global Select Market or through any existing trading markets.

The shares will be issued as part of an effective registration statement filed with the SEC earlier this year.