GMR services and advisory agreement
Company: Applied Digital
The claim, verbatim
Executed strategy and portfolio advisory services agreement in March 2021 with GMR for cryptoasset mining management and equipment procurement, issuing 7,440,148 shares of common stock
Source (primary)
Applied Digital 424B3 filed 2023-05-16 (SEC EDGAR, sec_filing)
View cached copy (2026-09-13)Live source ↗
Quote: “In March 2021, we executed a strategy planning and portfolio advisory services agreement ("Services Agreement") with GMR Limited... we agreed to issue 7,440,148 shares of Common Stock to GMR or its designees”
How we checked this
Checked on September 21, 2026. The cited source supports every part of this claim.
The document establishes the March 2021 services agreement with GMR, its mining-management and equipment-procurement scope, and the 7,440,148-share issuance.
Confirmed in the source:
- A strategy planning and portfolio advisory services agreement was executed in March 2021 with GMR Limited
- The service providers agreed to provide cryptoasset mining management/analysis and to assist in securing hard-to-obtain equipment
- Applied Digital agreed to issue 7,440,148 shares of common stock to GMR or its designees
What we did: Read our cached copy of SEC EDGAR (https://www.sec.gov/Archives/edgar/data/1144879/000114487923000135/apld-424b3finalprospectus0.htm) in full (53,674 characters, retrieved September 13, 2026) and checked each assertion in the claim against it.
Additional evidence
confirms Applied Digital 424B3 filed 2023-05-16
Quote: “In March 2021, we executed a strategy planning and portfolio advisory services agreement ("Services Agreement") with GMR Limited... we agreed to issue 7,440,148 shares of Common Stock to GMR or its designees”