Placement agent fee to Northland Securities for SEPA
Company: Applied Digital
The claim, verbatim
Applied Digital agreed to pay Northland Securities an amount equal to 1% of the $250 million SEPA Aggregate Commitment, totaling 528,541 shares of common stock at $4.73 per share
Source (primary)
Applied Digital 8-K filed 2024-09-10 (SEC EDGAR, sec_filing)
View cached copy (2026-08-31)Live source ↗
Quote: “Northland Securities, Inc. acted as placement agent and received a fee equal to 1% of the SEPA Aggregate Commitment. The Company has agreed to pay the SEPA Placement Agent Fee in shares of common stock at a price per share of $4.73 per share, for a total number of shares equal to 528,541”
How we checked this
Checked on September 17, 2026. The cited source supports every part of this claim.
The filing states that Northland's fee is 1% of the $250 million SEPA commitment and is payable in 528,541 shares priced at $4.73. Those figures are consistent: $2.5 million divided by $4.73 is about 528,541 shares.
Confirmed in the source:
- Northland Securities, Inc. acted as placement agent for the SEPA
- The placement agent fee equals 1% of the SEPA Aggregate Commitment, which is $250 million
- Applied Digital agreed to pay the fee in common stock at $4.73 per share
- The fee totals 528,541 shares
What we did: Read our cached copy of SEC EDGAR (https://www.sec.gov/Archives/edgar/data/1144879/000114487924000235/apld-20240905.htm) in full (8,574 characters, retrieved August 31, 2026) and checked each assertion in the claim against it.
Additional evidence
confirms Applied Digital 8-K filed 2024-09-10
Quote: “Northland Securities, Inc. acted as placement agent and received a fee equal to 1% of the SEPA Aggregate Commitment. The Company has agreed to pay the SEPA Placement Agent Fee in shares of common stock at a price per share of $4.73 per share, for a total number of shares equal to 528,541”