Debt conversion to equity
Company: Applied Digital
The claim, verbatim
Company converted debt into 11,392,978 shares of common stock valued at $56,201 thousand
Source (primary)
Applied Digital 10-Q filed 2024-10-09 (SEC EDGAR, sec_filing)
View cached copy (2026-08-31)Live source ↗
Quote: “Conversions of debt — — — — 11,392,978 11 — — 56,201 — 56,201”
How we checked this
Checked on September 17, 2026. The cited source supports every part of this claim.
The equity statement shows 11,392,978 shares issued on debt conversions with a total equity impact of $56,201 thousand, and the non-cash disclosures list conversion of debt to common stock at $56,201 thousand.
Confirmed in the source:
- The company converted debt into 11,392,978 shares of common stock
- The conversions were valued at $56,201 thousand
What we did: Read our cached copy of SEC EDGAR (https://www.sec.gov/Archives/edgar/data/1144879/000114487924000253/apld-20240831.htm) in full (158,170 characters, retrieved August 31, 2026) and checked each assertion in the claim against it.
Additional evidence
confirms Applied Digital 10-Q filed 2024-10-09
Quote: “Conversions of debt — — — — 11,392,978 11 — — 56,201 — 56,201”