Applied Digital files Series E-1 Preferred Stock terms: 9% dividend, up to $62.5M offering

Applied Digital Corp.

62,500 shares of Series E-1 Preferred designated at $1,000 stated value for up to $62.5M offering.
Cumulative 9% annual dividend, payable monthly from legally available funds.
Holder optional redemption with early fees 9% to 5% over 3 years; company redemption after 2 years.
Prior Series A, B, D Preferred withdrawn Oct 24, 2024; undesignated preferred shares now 2,224,309.

Key facts

Extracted from this filing and checked against the source text.

Governance Changes SEC 8-K Item 5.03/5.05/5.06 confidence 0.9

Applied Digital Corp.: Filed Certificate of Designations establishing Series E-1 Preferred Stock (effective 2024-11-08).

Change: charter amendment
Effective: 2024-11-08

Exact text from the filing

On November 8, 2024, the Company filed a Certificate of Designations of the Powers, Preferences and Relative, Participating, Optional and Other Restrictions of Series E-1 Preferred Stock of the Company (the “Certificate of Designations”) with the Secretary of State of the State of Nevada to establish the rights, privileges, preferences, and restrictions of the Series E-1 Preferred Stock.

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13 governance changes filed in the last 30 days. Browse all governance changes →

Applied Digital Corp. filing history →

Source: SEC EDGAR

accession 0001493152-24-045934

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