Series F Convertible Preferred Stock conversion authorization
Company: Applied Digital
What the later record shows
Outcome not yet confirmed
Later filings show all Series F Preferred converted into common stock by February 28, 2025. However, no passage says stockholders approved the Nasdaq Rule 5635 proposal.
Checked October 9, 2026 against filings, releases and reporting published after the claim was made. Quotes are verbatim from the linked documents.
The claim, verbatim
Company seeking approval for issuance of common stock upon conversion of Series F Convertible Preferred Stock per Nasdaq Rule 5635
Source (primary)
Applied Digital DEF 14A filed 2024-10-23 (SEC EDGAR, sec_filing)
View cached copy (2026-08-31)Live source ↗
Quote: “To approve, for the purpose of complying with the applicable provisions of The Nasdaq Stock Market LLC ("Nasdaq") Listing Rule 5635, the potential issuance of shares of our common stock issuable upon conversion of our Series F Convertible Preferred Stock”
How we checked this
Checked on October 10, 2026. The cited source supports every part of this claim.
The proxy statement lists this as Proposal 5 and explains that the Series F Preferred Stock becomes convertible only if stockholders approve it under Nasdaq Rule 5635.
Confirmed in the source:
- Applied Digital sought stockholder approval, under Nasdaq Listing Rule 5635, for the potential issuance of common stock upon conversion of its Series F Convertible Preferred Stock (Proposal 5 at the November 20, 2024 annual meeting)
What we did: Read our cached copy of SEC EDGAR (https://www.sec.gov/Archives/edgar/data/1144879/000149315224042122/formdef14a.htm) in full (303,817 characters, retrieved August 31, 2026) and checked each assertion in the claim against it.
Additional evidence
confirms Applied Digital DEF 14A filed 2024-10-23
Quote: “To approve, for the purpose of complying with the applicable provisions of The Nasdaq Stock Market LLC ("Nasdaq") Listing Rule 5635, the potential issuance of shares of our common stock issuable upon conversion of our Series F Convertible Preferred Stock”