Standby Equity Purchase Agreement (SEPA)
Company: Applied Digital
The claim, verbatim
Entered into SEPA on August 28, 2024 providing option to sell up to $250 million of Common Stock at Company's discretion between September 30, 2024 and 36-month anniversary
Source (primary)
Applied Digital 424B3 filed 2024-09-11 (SEC EDGAR, sec_filing)
View cached copy (2026-08-31)Live source ↗
Quote: “On August 28, 2024, the Company entered into a Standby Equity Purchase Agreement with the Selling Stockholder (as amended, the " SEPA "). Pursuant to the SEPA, subject to certain conditions and limitations, the Company has the option... to sell... an aggregate amount of up to $250.0 million of Common Stock, at the Company's request any time during the commitment period commencing on September 30, 2024, and terminating on the 36-month anniversary of September 30, 2024.”
How we checked this
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Additional evidence
confirms Applied Digital 424B3 filed 2024-09-11
Quote: “On August 28, 2024, the Company entered into a Standby Equity Purchase Agreement with the Selling Stockholder (as amended, the " SEPA "). Pursuant to the SEPA, subject to certain conditions and limitations, the Company has the option... to sell... an aggregate amount of up to $250.0 million of Common Stock, at the Company's request any time during the commitment period commencing on September 30, 2024, and terminating on the 36-month anniversary of September 30, 2024.”