Applied Digital ups PEPA commitment to $1.59B, expands Series G preferred shares

Applied Digital Corp.

Fourth Amendment to PEPA increases aggregate commitment from $590M to $1.590B.
Authorized Series G Preferred shares raised from 204,000 to 1,030,000.
Max put issuance capped at $75M; one put per 7 business days; max outstanding $75M (waivable).
Original discount increased from 2% to 3%; placement agent fee eliminated; variable rate transactions now permitted.
Floor Price (minimum conversion price) floor raised from $4.33 to $4.48; board may adjust at discretion.

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.: Increased authorized Series G Preferred Stock from 204,000 to 1,030,000 shares and adjusted the Floor Price limit from $4.33 to $4.48, with board discretion to further adjust Floor Price (effective 2025-10-21).

Change: charter amendment
Effective: 2025-10-21

Exact text from the filing

On October 21, 2025, in connection with the entry into the Fourth Amendment, the Company filed an amendment (the “Fifth Certificate of Designations Amendment”) to the Certificate of the Designations, Powers, Preferences and Rights of Series G Convertible Preferred Stock, originally filed with the Secretary of State of the State of Nevada on April 30, 2025, as amended on each of August 14, 2025, September 11, 2025, September 25, 2025 and October 14, 2025 (as amended, the “Certificate of Designations”).

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Applied Digital Corp. filing history →

Source: SEC EDGAR

accession 0001493152-25-018800

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