Applied Digital has filed a Certificate of Designations on November 8, 2024, establishing the terms for its $62.5M Series E-1 Preferred Stock offering. The company designated 62,500 shares of preferred stock as Series E-1 Preferred Stock, following a previously disclosed Dealer Manager Agreement with Preferred Capital Securities, LLC on September 23, 2024.The Series E-1 Preferred Stock offers a 9% annual dividend rate and ranks senior to common stock but junior to existing debt. Holders can request redemption at any time, subject to early redemption fees ranging from 9% to 0% over three years. The company may settle redemptions in cash or common stock, with certain restrictions including a 19.99% cap on share issuance without stockholder approval.The shares have no stated maturity and include special redemption provisions upon a holder's death. The company retains the option to redeem shares after the second anniversary of issuance. The Series E-1 Preferred Stock has no preemptive rights, voting rights, or conversion provisions.

Applied Digital has filed a Certificate of Designations on November 8, 2024, establishing the terms for its $62.5M Series E-1 Preferred Stock offering. The company designated 62,500 shares of preferred stock as Series E-1 Preferred Stock, following a previously disclosed Dealer Manager Agreement with Preferred Capital Securities, LLC on September 23, 2024.The Series E-1 Preferred Stock offers a 9% annual dividend rate and ranks senior to common stock but junior to existing debt. Holders can request redemption at any time, subject to early redemption fees ranging from 9% to 0% over three years. The company may settle redemptions in cash or common stock, with certain restrictions including a 19.99% cap on share issuance without stockholder approval.The shares have no stated maturity and include special redemption provisions upon a holder's death. The company retains the option to redeem shares after the second anniversary of issuance. The Series E-1 Preferred Stock has no preemptive rights, voting rights, or conversion provisions.