Applied Digital increases Series G preferred equity commitment to $300M, removes put limitation

Applied Digital Corp.

Commitment amount under Series G preferred equity purchase agreement doubled from $150M to $300M.
Put limitation of $75M per issuance removed, enabling larger capital draws for data center construction.
Conversion floor price raised from $4.25 to $12.50; floor price limit increased to $4.33.
Proceeds will fund continued construction of Polaris Forge I data center in Ellendale, North Dakota.

Key facts

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Governance Changes SEC 8-K Item 5.03/5.05/5.06 confidence 0.95

Applied Digital Corp.: Amended Certificate of Designations to increase initial Floor Price from $4.25 to $12.50 and change the floor price reduction limit from $1.34 to $4.33 (effective 2025-08-14).

Change: charter amendment
Effective: 2025-08-14

Exact text from the filing

On August 14, 2025, the Company filed an amendment (the “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 (the “Certificate of Designations”). The Certificate of Designations Amendment amends the Certificate of Designations to, among other things, (i) increase the initial Floor Price (as set forth in Section 1.5(c)(i) of the Certificate of Designations) to $12.50 from $4.25, and (ii) change the limit below which the Floor Price may not be reduced (as set forth in Section 1.5(c)(ii) of the Certificate of Designations) to $4.33 from $1.34.

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Source: SEC EDGAR

accession 0001641172-25-024438

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