Net Proceeds from Series E Offering
Company: Applied Digital
The claim, verbatim
Net proceeds to Applied Digital Corporation expected to be $46,000,000 after selling commissions and dealer manager fees of 8% maximum
Source (primary)
Applied Digital 424B5 filed 2024-05-17 (SEC EDGAR, sec_filing)
View cached copy (2026-08-31)Live source ↗
Quote: “Proceeds to Applied Digital Corporation(3)(4) $23.00 $46,000,000”
How we checked this
Checked on September 18, 2026. The cited source supports part of this claim, but not all of it.
The $46,000,000 figure is an illustration that assumes every share is sold and leaves out offering expenses. The filing's own estimate of net proceeds, after all costs, is lower at about $22.14 per share.
Confirmed in the source:
- The maximum selling commission is 6% and the dealer manager fee is 2%, totaling 8% of stated value
- Proceeds to Applied Digital are shown as $46,000,000 ($23.00 per share) after those maximum fees, assuming all 2,000,000 shares are sold
We could not confirm this from the cited source:
- That Applied Digital's net proceeds are expected to be $46,000,000; the filing says this figure excludes roughly $875,000 of expected offering expenses and estimates net proceeds of about $22.14 per share after all costs
That does not mean it is false — only that this source does not establish it, as of the date above. If we find a source that settles it, we will re-check and update this page.
What we did: Read our cached copy of SEC EDGAR (https://www.sec.gov/Archives/edgar/data/1144879/000114487924000132/preferredcapitalprospectus.htm) in full (178,920 characters, retrieved August 31, 2026) and checked each assertion in the claim against it.
Additional evidence
confirms Applied Digital 424B5 filed 2024-05-17
Quote: “Proceeds to Applied Digital Corporation(3)(4) $23.00 $46,000,000”