Series F Preferred Stock Issuance
Company: Applied Digital
The claim, verbatim
Issued 53,191 shares of Series F Convertible Preferred Stock for $50 million net proceeds with 8% annual cumulative dividends
Source (primary)
Applied Digital S-1 filed 2024-09-13 (SEC EDGAR, sec_filing)
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Quote: “The transaction closed on August 30, 2024, for total net proceeds to the Company of $50.0 million. Each outstanding share of Series F Preferred Stock is entitled to receive, in preference to our Common Stock, cumulative dividends ("Preferential Dividends"), payable quarterly in arrears, at an annual rate of 8.0% of $1,000.00 per share of Series F Preferred Stock”
How we checked this
Additional evidence
confirms Applied Digital S-1 filed 2024-09-13
Quote: “The transaction closed on August 30, 2024, for total net proceeds to the Company of $50.0 million. Each outstanding share of Series F Preferred Stock is entitled to receive, in preference to our Common Stock, cumulative dividends ("Preferential Dividends"), payable quarterly in arrears, at an annual rate of 8.0% of $1,000.00 per share of Series F Preferred Stock”