{"schema_version":"secwatch.filing_event.v1","accession":"0001144879-24-000133","form_type":"8-K","ticker":"APLD","cik":"0001144879","company_name":"Applied Digital Corp.","filed_at":"2024-05-17T23:59:59+00:00","discovered_at":"2026-05-14T18:03:17.461282+00:00","generated_at":"2026-06-01T14:29:45.210233+00:00","sec_items":["1.01","5.03","8.01","9.01"],"event_type":"other_material","sentiment":"neutral","materiality_score":0.7,"calibrated_materiality_score":0.7,"confidence":"high","headline":"Applied Digital launches up to $50M Series E Preferred Stock offering, prepays AI Note with 8.4M shares","bullets":["Offers up to 2,000,000 shares of Series E Redeemable Preferred Stock at $25.00/share ($50M aggregate); 2% dealer manager fee plus up to 6% selling commission.","Series E Preferred accrues dividends at 9.0% annually per Certificate of Amendment filed May 16, 2024.","Prepaid $? Unsecured Promissory Note (AI Note) in full via issuance of 8,421,146 shares of common stock; note extinguished.","Entered Services Agreement with Preferred Shareholder Services for post-offering support including recordkeeping and redemption processing."],"urls":{"canonical":"https://secwatch.observer/filing/0001144879-24-000133","json":"https://secwatch.observer/filing/0001144879-24-000133.json","markdown":"https://secwatch.observer/filing/0001144879-24-000133.md","text":"https://secwatch.observer/filing/0001144879-24-000133.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/1144879/000114487924000133/0001144879-24-000133-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/1144879/000114487924000133/apld-20240516.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-06-01T14:29:45.210233+00:00"},"review":{"review_status":"machine_generated","human_reviewed":false,"corrected":false,"correction_note":null,"correction_timestamp":null,"superseded_by":null,"related_filings":[]},"source_grounded_claims":[{"claim_id":"54066a95edadf0408947d60ac28a3f530f1cb543","claim":"Applied Digital Corp.: Certificate of Amendment to Series E Preferred Stock Certificate of Designations: dividend rate set at 9.0%, Holder Redemption Notice effective last day of month after receipt, death redemption allowed in cash or common stock, 19.99% cap on common shares issuable for redemption, and 60-day notice pr (effective 2024-05-16).","evidence_excerpt":"On May 16, 2024, the Company filed a Certificate of Amendment (the “Certificate of Amendment”) to the Certificate of Designation of Rights, Privileges, Preferences, and Restrictions (the “Certificate of Designations”) of Series E Preferred Stock with the Secretary of State of the State of Nevada, which provides that (i) dividends on the shares of Series E Preferred Stock (the “Shares”) shall accrue at an annual rate of 9.0% of the Stated Value of the Shares, (ii) a Holder Redemption Notice (as defined in the Certificate of Designations) shall be effective as of the last day of the month after a Holder Redemption Notice is duly received by the Company, or its designated agent, (iii) the Company’s redemption of the Shares upon the death of a beneficial holder of the Shares shall be made in either cash or with fully paid and non-assessable shares of the Company’s common stock, par value $0.001 per share (the “Common Stock”) in the sole and absolute discretion of the board of directors of","evidence_source":"SEC 8-K Item 5.03/5.05/5.06","evidence_url":"https://www.sec.gov/Archives/edgar/data/1144879/000114487924000133/0001144879-24-000133-index.htm","confidence":0.9,"family_label":"Governance Changes","details":[{"label":"Change","value":"charter amendment"},{"label":"Effective","value":"2024-05-16"}],"fact_type":"governance_change"},{"claim_id":"90fed472a61d1bcf26a0c8ba73e712a1de19df5a","claim":"Applied Digital Corp. entered into Services Agreement with Preferred Shareholder Services, LLC (effective 2024-05-16).","evidence_excerpt":"On May 16, 2024, the Company entered into a Services Agreement (the “Services Agreement”) with Preferred Shareholder Services, LLC (“PSS”), an affiliate of the Dealer Manager, pursuant to which PSS will provide certain post-Offering support services to the Company relating to the Series E Preferred Stock.","evidence_source":"SEC 8-K Item 1.01/1.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/1144879/000114487924000133/0001144879-24-000133-index.htm","confidence":0.9,"family_label":"Material Agreements","details":[{"label":"Action","value":"entry"},{"label":"Counterparty","value":"Preferred Shareholder Services, LLC"},{"label":"Effective","value":"2024-05-16"}],"fact_type":"material_agreement"},{"claim_id":"b83294dd3831748adbdb55a83c01337ed3d66dec","claim":"Applied Digital Corp. entered into Dealer Manager Agreement with Preferred Capital Securities, LLC (effective 2024-05-16).","evidence_excerpt":"On May 16, 2024, Applied Digital Corporation (the “Company”) entered into a Dealer Manager Agreement (the “Dealer Manager Agreement”) with Preferred Capital Securities, LLC (the “Dealer Manager”)","evidence_source":"SEC 8-K Item 1.01/1.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/1144879/000114487924000133/0001144879-24-000133-index.htm","confidence":0.9,"family_label":"Material Agreements","details":[{"label":"Action","value":"entry"},{"label":"Agreement","value":"underwriting"},{"label":"Counterparty","value":"Preferred Capital Securities, LLC"},{"label":"Effective","value":"2024-05-16"}],"fact_type":"material_agreement"}],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}