Applied Digital raises floor price for Series G preferred stock conversion

Applied Digital Corp. (NASDAQ:APLD) amended its Series G Convertible Preferred Stock terms, raising the minimum conversion price floor from $22.00 to $34.00, aligning closer with the company’s current stock price of $34.26. The amendment was filed Tuesday with the Secretary of State of Nevada. The stock has shown remarkable momentum, gaining over 827% in the past six months, though InvestingPro analysis indicates the stock is currently trading above its Fair Value.

The floor price determines the lowest price at which the Series G Convertible Preferred Stock can convert into common stock, unless the company decides otherwise. The change was made through an amendment to the Certificate of Designations, which was originally filed on April 30 and previously amended on August 14, September 11, and September 25 of this year. With the stock currently trading near its 52-week high of $40.20, InvestingPro data reveals 18 additional key insights about the company’s valuation and growth prospects.

Applied Digital’s common stock is listed on the Nasdaq Global Select Market under the symbol APLD.

This information is based on a statement contained in the company’s recent SEC filing.

In other recent news, Applied Digital Corp reported its first quarter fiscal year 2026 earnings, which exceeded analysts’ expectations. The company recorded an adjusted earnings per share (EPS) of -$0.03, outperforming the anticipated -$0.14. Revenue reached $64.2 million, surpassing the projected $50.97 million. Following these strong results, multiple analyst firms adjusted their price targets for Applied Blockchain . H.C. Wainwright doubled its price target to $40 while maintaining a Buy rating. Needham also raised its price target to $41, citing stronger-than-expected top-line results. Citizens increased its target to $40, attributing the revision to a one-time revenue contribution. These recent developments highlight the positive sentiment among analysts regarding Applied Digital’s financial performance.

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