Common stock issuance cap for Series E Preferred Stock redemptions
Company: Applied Digital
The claim, verbatim
Shares of Common Stock issuable to Series E Preferred Stock holders for redemption shall not exceed 19.99% of outstanding Common Stock without shareholder approval, per Nasdaq Rule 5635(d)
Source (primary)
Applied Digital 8-K filed 2024-05-17 (SEC EDGAR, sec_filing)
View cached copy (2026-08-31)Live source ↗
Quote: “if required by Rule 5635(d) of the Nasdaq Stock Market, the number of shares of Common Stock issuable to holders of Series E Preferred Stock for redemption shall not exceed 19.99% of the outstanding shares of Common Stock without the approval of the Company's shareholders”
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 2024-05-17
Quote: “if required by Rule 5635(d) of the Nasdaq Stock Market, the number of shares of Common Stock issuable to holders of Series E Preferred Stock for redemption shall not exceed 19.99% of the outstanding shares of Common Stock without the approval of the Company's shareholders”