Monthly conversion limit
Company: Applied Digital
The claim, verbatim
Below $8.00 conversion price, investor is limited to converting no more than $16.0 million per month in the aggregate across the Promissory Note and Initial Promissory Notes.
Source (primary)
Applied Digital 8-K filed 2024-05-24 (SEC EDGAR, sec_filing)
View cached copy (2026-08-31)Live source ↗
Quote: “Below $8.00, the Investor is limited to converting no more than $16.0 million per month in the aggregate across the Promissory Note and Initial Promissory Notes”
How we checked this
Checked on September 18, 2026. The cited source supports every part of this claim.
The filing states that below $8.00 the investor is limited to converting $16.0 million per month across the new note and the Initial Promissory Notes.
Confirmed in the source:
- Below $8.00, the investor may convert no more than $16.0 million per month
- The limit applies in the aggregate across the Promissory Note and the Initial Promissory Notes
What we did: Read our cached copy of SEC EDGAR (https://www.sec.gov/Archives/edgar/data/1144879/000114487924000140/apld-20240524.htm) in full (15,238 characters, retrieved August 31, 2026) and checked each assertion in the claim against it.
Additional evidence
confirms Applied Digital 8-K filed 2024-05-24
Quote: “Below $8.00, the Investor is limited to converting no more than $16.0 million per month in the aggregate across the Promissory Note and Initial Promissory Notes”