Series F Preferred Stock offering
Company: Applied Digital
The claim, verbatim
Private placement of 53,191 shares of Series F Convertible Preferred Stock closed August 30, 2024, generating $50.0 million in proceeds, with 8% annual cumulative dividends
Source (primary)
Applied Digital S-1 filed 2024-10-23 (SEC EDGAR, sec_filing)
View cached copy (2026-08-31)Live source ↗
Quote: “On August 29, 2024, we entered into a securities purchase agreement (the "Series F Purchase Agreement") with YA II PN, LTD. ("YA Fund") for the private placement of 53,191 shares of Series F Convertible Preferred Stock of the Company. The transaction closed on August 30, 2024, for total proceeds to the Company of $50.0 million, before deducting certain offering expenses. Each outstanding share of Series F Preferred Stock is entitled to receive, in preference to our Common Stock, cumulative dividends at an annual rate of 8.0% of $1,000.00 per share of Series F Preferred Stock.”
How we checked this
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Additional evidence
confirms Applied Digital S-1 filed 2024-10-23
Quote: “On August 29, 2024, we entered into a securities purchase agreement (the "Series F Purchase Agreement") with YA II PN, LTD. ("YA Fund") for the private placement of 53,191 shares of Series F Convertible Preferred Stock of the Company. The transaction closed on August 30, 2024, for total proceeds to the Company of $50.0 million, before deducting certain offering expenses. Each outstanding share of Series F Preferred Stock is entitled to receive, in preference to our Common Stock, cumulative dividends at an annual rate of 8.0% of $1,000.00 per share of Series F Preferred Stock.”