Macquarie preferred equity at 12.75% coupon
Company: Applied Digital
The claim, verbatim
Applied Digital has preferred equity from Macquarie carrying a 12.75% coupon, paid in kind, which ranks ahead of common shareholders.
Source (primary)
Applied Digital (NASDAQ: APLD) Has $36 Billion In Leases But A Brutal Capital Stack Keeps Bulls At Bay - Foreign Policy Journal (-, news_article)
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Quote: “Macquarie's preferred equity, carrying a 12.75% coupon and paying $60.1 million in dividends in kind during the quarter, adds further pressure ahead of common shareholders in the capital structure”
How we checked this
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Additional evidence
confirms Applied Digital (NASDAQ: APLD) Has $36 Billion In Leases But A Brutal Capital Stack Keeps Bulls At Bay - Foreign Policy Journal
Quote: “Macquarie's preferred equity, carrying a 12.75% coupon and paying $60.1 million in dividends in kind during the quarter, adds further pressure ahead of common shareholders in the capital structure”