$7.00 conversion price upon shareholder approval
Company: Applied Digital
The claim, verbatim
Upon shareholder approval, the preferred stock will become convertible into common stock at an initial conversion price of $7.00 per share, a premium of over 80% to the latest common stock price, unless the reset feature is triggered.
Source (primary)
applied-digital 8-K exhibit (ex991apld-yaxprojectsupern.htm) (SEC EDGAR (8-K Ex), press_release)
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Quote: “Upon receipt of shareholder approval, the preferred stock will become convertible into common stock of the Company at an initial conversion price of $7.00 per share (a premium of over 80% to Applied Digital's latest common stock price)”
How we checked this
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Additional evidence
confirms applied-digital 8-K exhibit (ex991apld-yaxprojectsupern.htm)
Quote: “Upon receipt of shareholder approval, the preferred stock will become convertible into common stock of the Company at an initial conversion price of $7.00 per share (a premium of over 80% to Applied Digital's latest common stock price)”