Applied Digital Registers 24.6M More Shares for Resale as PEPA Commitment Hits $2B
APLD sits 38% above its 52-week low of $19.005.
Summary
Applied Digital filed a post-effective amendment registering 24.6 million additional shares for resale, reflecting a $2 billion upsized Series G Preferred Stock commitment with $835 million still issuable.
Key Events · Financing and Capital Events · APLD
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24.6M Additional Shares Registered for Resale
Post-Effective Amendment No. 3 registers 24,558,823 new shares of common stock issuable upon conversion of Series G Preferred Stock, bringing the total resale shelf to 53,087,689 shares.
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PEPA Commitment Upsized to $2 Billion
The Sixth Amendment increased the aggregate commitment from $1.59 billion to $2 billion, with $835 million of Series G Preferred Stock still issuable.
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Conversion Floor at $34.00 vs $26.28 Current Price
The $34.00 floor price is above the current $26.28 share price, so conversions are unlikely at today's levels unless the company elects to reduce the floor (minimum $4.48).
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Selling Stockholders Are B. Riley Affiliates
B. Riley Wealth Management, Principal Investments, and Principal Capital hold the majority of the registered shares; AI Bridge Funding holds 3M warrant shares.
Analysis · APLD · Technology
Applied Digital is registering an additional 24.6 million shares for resale by selling stockholders, bringing the total resale shelf to 53.1 million shares. The underlying Series G Preferred Stock commitment has been upsized to $2 billion, with $835 million still issuable. At the $34.00 floor price, that remaining commitment converts into roughly 24.6 million new shares — about 8% of the 302.3 million shares currently outstanding. The selling stockholders are B. Riley affiliates and AI Bridge Funding, who will sell into the market over time. The company receives no proceeds from these resales; the capital was already raised through the preferred stock issuances. The overhang is real but the conversion floor at $34.00 sits well above the current $26.28 share price, meaning conversions are unlikely to occur at today's levels unless the floor is reduced at the company's discretion.
How filings like this one have moved
In the 30 days to Oct 1, 2026, 30.2% of the 1645 measured filings Wiseek scored 7 moved their stock by 5% or more by the next session's close. The median move was -0.49%. These are measured outcomes after filings of this importance, not a forecast for this one.
Measured one observation per ticker per day, after exclusions. Current figures: Filing Impact Tracker · open dataset
At the time of this filing, APLD was trading at $26.28 on NASDAQ in the Technology sector, with a market capitalization of approximately $7.7B. The 52-week trading range was $19.01 to $50.73. This filing was assessed with negative market sentiment and an importance score of 7 out of 10.