Promissory Note conversion price terms
Company: Applied Digital
The claim, verbatim
Investor may convert promissory note at price per share equal to the lower of $8.00 (fixed price) and 95% of the lowest daily VWAP during five trading days prior to conversion, subject to a floor price of $3.00.
Source (primary)
Applied Digital 8-K filed 2024-05-24 (SEC EDGAR, sec_filing)
View cached copy (2026-08-31)Live source ↗
Quote: “convert a portion of the Promissory Note at a price per share equal to the lower of: (a) $8.00 (the "Fixed Price") and (b) 95% of the lowest daily volume weighted average price (the "VWAP") of the Common Shares during the five trading days immediately prior to the date of such conversion, subject to a floor price of $3.00”
How we checked this
This claim has not yet been checked assertion-by-assertion against its source. It carries a cited source and quote, but the deeper check has not run. When it does, the result appears here whatever it says.
Additional evidence
confirms Applied Digital 8-K filed 2024-05-24
Quote: “convert a portion of the Promissory Note at a price per share equal to the lower of: (a) $8.00 (the "Fixed Price") and (b) 95% of the lowest daily volume weighted average price (the "VWAP") of the Common Shares during the five trading days immediately prior to the date of such conversion, subject to a floor price of $3.00”