Applied Digital Corporation (APLD) has shared an update.
Applied Digital Corporation has entered into an agreement with Oasis Management, which includes appointing Oasis’s Ella Benson to the Board as an independent director and Chairperson of the Nominating and Governance Committee. Oasis agrees to a standstill, limiting its share ownership and refraining from certain actions against the company until the end of the cooperation period, following the 2025 stockholder meeting or until Benson is no longer serving. The agreement also includes provisions for Oasis to support the Board’s decisions and keep certain information confidential.
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