Standby Equity Purchase Agreement (SEPA)
Company: Applied Digital
What the later record shows
Not a promise: a reported event · happened August 28, 2024
The claim reports a SEPA already entered into on August 28, 2024. Later filings confirm it.
“On August 28, 2024, the Company entered into the SEPA with YA Fund.”
2024-09-22 · Applied Digital S-1 filed 2024-09-23 View cached copy (2026-08-31)Live source ↗
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
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
Checked on October 10, 2026. The cited source supports every part of this claim.
The prospectus states the SEPA date, the $250 million amount, the company's option to sell, and the commitment period.
Confirmed in the source:
- The company entered into a Standby Equity Purchase Agreement on August 28, 2024
- The SEPA gives the company the option, but not the obligation, to sell up to $250.0 million of Common Stock at its request
- The commitment period runs from September 30, 2024 to the 36-month anniversary of that date
What we did: Read our cached copy of SEC EDGAR (https://www.sec.gov/Archives/edgar/data/1144879/000114487924000238/apld-prospectusyorkvillepo.htm) in full (84,274 characters, retrieved August 31, 2026) and checked each assertion in the claim against it.
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.”