Services Agreement with GMR, SparkPool, and Valuefinder - stock issuance
Company: Applied Digital
The claim, verbatim
Applied Digital executed a services agreement in March 2021 with GMR, SparkPool, and Valuefinder for cryptoasset mining management and analysis, equipment sourcing, and co-hosting operations advisory. Applied Digital agreed to issue 7,440,148 shares to GMR, 7,440,148 shares to SparkPool, and 3,156,426 shares to Valuefinder.
Source (primary)
Applied Digital 424B3 filed 2022-09-27 (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... Xsquared Holding Limited... ("SparkPool")... Valuefinder... we agreed to issue 7,440,148 shares of our common stock to GMR or its designees, 7,440,148 shares of our common stock to SparkPool or its designees and 3,156,426 shares of our common stock to Valuefinder or its designees.”
How we checked this
Checked on September 22, 2026. The cited source supports every part of this claim.
The document establishes the March 2021 agreement, its services scope including co-hosting advisory, and the exact share amounts for each party.
Confirmed in the source:
- APLD executed a Services Agreement in March 2021 with GMR, SparkPool (Xsquared) and Valuefinder
- The Service Providers agreed to provide cryptoasset mining management and analysis and to assist in securing difficult-to-obtain equipment
- They also advised on the design and buildout of the co-hosting operations
- APLD agreed to issue 7,440,148 shares to GMR, 7,440,148 to SparkPool, and 3,156,426 to Valuefinder
What we did: Read our cached copy of SEC EDGAR (https://www.sec.gov/Archives/edgar/data/1144879/000114487922000044/a9262022424b3finalprospect.htm) in full (350,225 characters, retrieved September 13, 2026) and checked each assertion in the claim against it.
Additional evidence
confirms Applied Digital 424B3 filed 2022-09-27
Quote: “In March 2021, we executed a strategy planning and portfolio advisory services agreement ("Services Agreement") with GMR Limited... Xsquared Holding Limited... ("SparkPool")... Valuefinder... we agreed to issue 7,440,148 shares of our common stock to GMR or its designees, 7,440,148 shares of our common stock to SparkPool or its designees and 3,156,426 shares of our common stock to Valuefinder or its designees.”