Applied Digital Corp. Files 8-K/A Amendment

Ticker: APLD · Form: 8-K/A · Filed: Jun 6, 2024 · CIK: 1144879

Sentiment: neutral

Topics: amendment, regulatory-filing

TL;DR

Applied Digital Corp. filed an 8-K/A amendment on June 5, 2024, for 'Other Events'. No new financial details provided.

AI Summary

Applied Digital Corporation filed an amendment (8-K/A) on June 5, 2024, to a previous filing. The amendment pertains to 'Other Events' and does not specify new financial figures or material changes in this excerpt. The company, formerly known as Applied Blockchain, Inc., is incorporated in Nevada and headquartered in Dallas, Texas.

Why It Matters

This filing indicates a procedural update or correction to a previous report by Applied Digital Corporation, suggesting ongoing regulatory compliance and transparency.

Risk Assessment

Risk Level: low — The filing is an amendment to a previous report and does not introduce new material financial information or significant corporate actions.

Key Players & Entities

FAQ

What is the purpose of this 8-K/A filing?

This 8-K/A filing serves as an amendment to a previous report, specifically related to 'Other Events' as of June 5, 2024.

What was Applied Digital Corporation's former name?

Applied Digital Corporation was formerly known as Applied Blockchain, Inc.

When was the earliest event reported in this filing?

The earliest event reported in this filing was on June 5, 2024.

Where is Applied Digital Corporation's principal executive office located?

Applied Digital Corporation's principal executive office is located at 3811 Turtle Creek Blvd., Suite 2100, Dallas, TX 75219.

Does this amendment provide new financial figures?

Based on the provided excerpt, this amendment does not specify new financial figures or material changes.

Filing Stats: 651 words · 3 min read · ~2 pages · Grade level 12.1 · Accepted 2024-06-06 12:48:56

Filing Documents

01 Other Events

Item 8.01 Other Events. Derivative Lawsuit Applied Digital's Motion to Dismiss Granted As previously disclosed, on November 15, 2023, a lawsuit asserting derivative claims was filed in the District Court of Clark County, Nevada (the "Court"), on behalf of nominal defendant Applied Digital Corporation (the "Company") against six members of our board of directors in a case captioned Robert Weich v. Wes Cummins, et. al. , No. A-23-881629-B. The complaint asserted claims for breach of fiduciary duty, unjust enrichment, and corporate waste arising from statements made by the Company concerning its cryptocurrency mining business segment and a loan that the Company's subsidiary, SAI Computing LLC, received from B. Riley Commercial Capital and B. Riley Securities, as well as the early repayment of that loan. On February 27, 2024, the plaintiff filed an amended complaint asserting the same claim as the original complaint. On June 5, 2024, following a complete briefing and argument on the defendants' motion to dismiss, the Court entered an order granting the defendants' motion without prejudice and holding that the plaintiff failed to plead (1) demand futility as to each of plaintiff's claims or (2) a claim for breach of fiduciary duty. The order dismissed all claims against all defendants, including the Company. The plaintiff has the ability to move for leave to file an amended complaint. If plaintiff does not file such a motion or the court denies it, the plaintiff will have 30 days after notice of entry of the order granting the motion to dismiss to file a notice of appeal. SIGNATURE Pursuant to the requirements of Section 13 or 15 (d) of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized. Dated: June 6, 2024 By: /s/ David Rench Name: David Rench Title: Chief Financial Officer

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