Board director designation rights for majority owner
Company: Applied Digital
The claim, verbatim
If APLD Investors beneficially own a majority of the combined company's outstanding voting securities, they will have the right to designate four of the seven directors on the combined company's Board of Directors, including the Chairman
Source (primary)
Applied Digital DEFA14A filed 2026-02-17 (SEC EDGAR, sec_filing)
View cached copy (2026-08-31)Live source ↗
Quote: “the APLD Investor (as defined therein), or any group of APLD Investors collectively, that beneficially owns a majority of the outstanding voting securities of the combined company at any time will have the right to designate four (4) of the seven (7) directors on the combined company's Board of Directors, including the Chairman”
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 DEFA14A filed 2026-02-17
Quote: “the APLD Investor (as defined therein), or any group of APLD Investors collectively, that beneficially owns a majority of the outstanding voting securities of the combined company at any time will have the right to designate four (4) of the seven (7) directors on the combined company's Board of Directors, including the Chairman”