---
schema_version: "secwatch.filing_event.v1"
accession: "0001144879-23-000159"
form_type: "8-K"
ticker: "APLD"
cik: "0001144879"
company_name: "Applied Digital Corp."
filed_at: "2023-06-09T23:59:59+00:00"
generated_at: "2026-06-14T03:31:45.779022+00:00"
event_type: "other_material"
sentiment: "neutral"
materiality_score: 0.3
calibrated_materiality_score: 0.3
confidence: "high"
source: SEC EDGAR
---

# Applied Digital amends Series E Preferred terms; dividends now cash-only

## Summary
- Certificate of Amendment to Series E Preferred filed June 8, 2023, effective June 9.
- Amendment removes ability for Series E holders to request dividends in common stock.
- All future dividends on Series E will be paid only in cash from legally available funds.

## SEC filing metadata
- accession: 0001144879-23-000159
- form_type: 8-K
- ticker: APLD
- cik: 0001144879
- company_name: Applied Digital Corp.
- filed_at: 2023-06-09T23:59:59+00:00
- event_type: other_material
- sentiment: neutral
- materiality_score: 0.3
- calibrated_materiality_score: 0.3
- confidence: high
- sec_items: 5.03, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1144879/000114487923000159/0001144879-23-000159-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1144879/000114487923000159/apld-20230608.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001144879-23-000159
- JSON: https://secwatch.observer/filing/0001144879-23-000159.json
- Plain text: https://secwatch.observer/filing/0001144879-23-000159.txt

## Key facts
- Governance Changes
  Applied Digital Corp.: Removed ability of Series E Preferred Stock holders to request payment of dividends in common stock; dividends will only be paid in cash (effective 2023-06-09).
  - Change: charter amendment
  - Effective: 2023-06-09
  source text: On June 8, 2023, Applied Digital Corporation (the “Company”) filed a Certificate of Amendment to the Certificate of Designation of Rights, Privileges, Preferences, and Restrictions of Series E Preferred Stock (the “Certificate of Amendment”) with the Secretary of State of the State of Nevada, which removed the ability of the holders of Series E Preferred Stock to request payment of dividends in common stock of the Company. Dividends payable to the holders of Series E Preferred Stock will only be paid in cash out of the Company’s legally available funds. The Certificate of Amendment became effective on June 9, 2023.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1144879/000114487923000159/0001144879-23-000159-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.