Use of proceeds for prepaid forward transaction
Company: Applied Digital
The claim, verbatim
Company intends to use approximately $52.7 million of net proceeds to fund cost of prepaid forward transaction
Source (primary)
Applied Digital 8-K filed 2024-10-31 (SEC EDGAR, sec_filing)
View cached copy (2026-08-31)Live source ↗
Quote: “approximately $52.7 million of the net proceeds from the sale of the Convertible Notes to fund the cost of entering into certain prepaid forward transaction”
How we checked this
Checked on September 17, 2026. The cited source supports every part of this claim.
The filing states that approximately $52.7 million of the net proceeds will fund the cost of entering into a prepaid forward transaction.
Confirmed in the source:
- The company intends to use approximately $52.7 million of net proceeds
- That amount is to fund the cost of entering into a prepaid forward transaction
What we did: Read our cached copy of SEC EDGAR (https://www.sec.gov/Archives/edgar/data/1144879/000149315224043119/form8-k.htm) in full (4,622 characters, retrieved August 31, 2026) and checked each assertion in the claim against it.
Additional evidence
confirms Applied Digital 8-K filed 2024-10-31
Quote: “approximately $52.7 million of the net proceeds from the sale of the Convertible Notes to fund the cost of entering into certain prepaid forward transaction”