Series G Preferred Stock Commitment Increase
Company: Applied Digital
The claim, verbatim
Series G Preferred Stock aggregate commitment increased from $590 million to $1.59 billion per Fourth Amendment to Preferred Equity Purchase Agreement
Source (primary)
Applied Digital S-3 filed 2025-12-05 (SEC EDGAR, sec_filing)
View cached copy (2026-08-31)Live source ↗
Quote: “The Fourth Amendment amended the PEPA to, among other things (i) increase the aggregate commitment amount of the shares of the Series G Preferred Stock, from $590.0 million to $1.590 billion”
How we checked this
Checked on September 16, 2026. The cited source supports part of this claim, but not all of it.
The prospectus confirms the Fourth Amendment raised the Series G commitment from $590.0 million to $1.590 billion, but it never spells out what the abbreviation PEPA stands for.
Confirmed in the source:
- A Fourth Amendment to the PEPA increased the aggregate commitment amount for Series G Preferred Stock from $590.0 million to $1.590 billion
- The Fourth Amendment was entered into on October 21 and was intended to increase access to capital for Polaris Forge 1 and Polaris Forge 2 construction
We could not confirm this from the cited source:
- That 'PEPA' stands for 'Preferred Equity Purchase Agreement' — the document uses the acronym without defining it
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/1144879/000149315225026369/forms-3.htm) in full (89,712 characters, retrieved August 31, 2026) and checked each assertion in the claim against it.
Additional evidence
confirms Applied Digital S-3 filed 2025-12-05
Quote: “The Fourth Amendment amended the PEPA to, among other things (i) increase the aggregate commitment amount of the shares of the Series G Preferred Stock, from $590.0 million to $1.590 billion”