{"schema_version":"secwatch.filing_event.v1","accession":"0001144879-22-000081","form_type":"8-K","ticker":"APLD","cik":"0001144879","company_name":"Applied Digital Corp.","filed_at":"2022-11-14T23:59:59+00:00","discovered_at":"2026-05-14T18:03:49.748501+00:00","generated_at":"2026-06-21T19:30:04.344032+00:00","sec_items":["1.01","2.03","5.03","5.07","9.01"],"event_type":"debt","sentiment":"neutral","materiality_score":0.55,"calibrated_materiality_score":0.55,"confidence":"high","headline":"Applied Digital (APLD) subsidiary enters $15M loan with Vantage Bank Texas; shareholders approve name change","bullets":["$15M term loan at 6.15% fixed rate, maturing Apr 26, 2028, for working capital at Garden City datacenter.","$4.6875M advanced initially; up to $937,500 per installment for building costs.","Loan secured by leasehold, assets, and master hosting agreements; parent Applied Digital guarantees.","Shareholders approved name change from Applied Blockchain, Inc. to Applied Digital Corporation, effective Nov 14, 2022.","Directors elected: Wes Cummins, Douglas Miller, Kelli McDonald, Virginia Moore, Chuck Hastings, Richard Nottenburg."],"urls":{"canonical":"https://secwatch.observer/filing/0001144879-22-000081","json":"https://secwatch.observer/filing/0001144879-22-000081.json","markdown":"https://secwatch.observer/filing/0001144879-22-000081.md","text":"https://secwatch.observer/filing/0001144879-22-000081.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/1144879/000114487922000081/0001144879-22-000081-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/1144879/000114487922000081/november142022form2022annu.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-06-21T19:30:04.344032+00:00"},"review":{"review_status":"machine_generated","human_reviewed":false,"corrected":false,"correction_note":null,"correction_timestamp":null,"superseded_by":null,"related_filings":[]},"source_grounded_claims":[{"claim_id":"385328ba60e8f94ae1e1c6f73228060b9a96e26f","claim":"Applied Digital Corp. incurred term loan of $15,000,000 with Vantage Bank Texas at 6.15% per annum maturing April 26, 2028.","evidence_excerpt":"On November 7, 2022, APLD – Rattlesnake Den I, LLC (the “Borrower”), a wholly-owned subsidiary of the Company, entered into the Loan Agreement with Vantage Bank Texas (“Lender”) and the Company, as guarantor, which agreement provides for a term loan in the principal amount of $15,000,000 (the “Loan”). The Loan will be advanced in 16 installments for working capital needs for the Borrower’s datacenter in Garden City, Texas (the “Garden City Facility”), with each installment not exceeding $937,500 for the costs and expenses of a building at the Garden City Facility. The unpaid principal amount of the Loan will bear interest at a fixed rate of 6.15% per annum, and the Borrower may prepay the Loan, in whole or in part, without the payment of any fee or penalty. The Loan Agreement matures April 26, 2028.","evidence_source":"SEC 8-K Item 2.03/2.04","evidence_url":"https://www.sec.gov/Archives/edgar/data/1144879/000114487922000081/0001144879-22-000081-index.htm","confidence":0.9,"family_label":"Debt Financings","details":[{"label":"Instrument","value":"term loan"},{"label":"Principal","value":"$15,000,000"},{"label":"Counterparty","value":"Vantage Bank Texas"},{"label":"Rate","value":"6.15% per annum"},{"label":"Maturity","value":"April 26, 2028"},{"label":"Event","value":"incurrence"}],"fact_type":"debt_financing"},{"claim_id":"c0527281b8f688ea962845087b5bfcbfcb20a5ce","claim":"Applied Digital Corp.: Amended Articles of Incorporation to change company name from Applied Blockchain, Inc. to Applied Digital Corporation (effective 2022-11-14).","evidence_excerpt":"As further described in Item 5.07 below, on November 10, 2022, the Company held its 2022 Annual Meeting of Stockholders (the “Annual Meeting”), at which stockholders approved to amend the Company’s Second Amended and Restated Articles of Incorporation to change the Company name from Applied Blockchain, Inc. to Applied Digital Corporation.","evidence_source":"SEC 8-K Item 5.03/5.05/5.06","evidence_url":"https://www.sec.gov/Archives/edgar/data/1144879/000114487922000081/0001144879-22-000081-index.htm","confidence":0.9,"family_label":"Governance Changes","details":[{"label":"Change","value":"charter amendment"},{"label":"Effective","value":"2022-11-14"}],"fact_type":"governance_change"},{"claim_id":"67324064210f72770226af0ad2e62a80835dc987","claim":"Applied Digital Corp. entered into Loan Agreement with Vantage Bank Texas (effective 2022-11-07).","evidence_excerpt":"On November 7, 2022, APLD – Rattlesnake Den I, LLC (the “Borrower”), a wholly-owned subsidiary of Applied Digital Corporation, formerly known as Applied Blockchain, Inc. (the “Company”), entered into a Loan Agreement with Vantage Bank Texas (the “Lender”) and the Company, as guarantor (the “Loan Agreement”).","evidence_source":"SEC 8-K Item 1.01/1.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/1144879/000114487922000081/0001144879-22-000081-index.htm","confidence":0.9,"family_label":"Material Agreements","details":[{"label":"Action","value":"entry"},{"label":"Agreement","value":"credit facility"},{"label":"Counterparty","value":"Vantage Bank Texas"},{"label":"Effective","value":"2022-11-07"}],"fact_type":"material_agreement"},{"claim_id":"19ebc93d4720b62a8d6aa2155d6ef9243e854e1d","claim":"Applied Digital Corp. shareholders approved Advisory approval of the compensation of the Company's named executive officers at the 2022-11-10 meeting.","evidence_excerpt":"Proposal 3 The stockholders approved, on an advisory basis, the compensation of the Company's named executive officers. For Against Abstain Broker Non-Votes 48,396,674 656,735 386,301 11,742,889","evidence_source":"SEC 8-K Item 5.07","evidence_url":"https://www.sec.gov/Archives/edgar/data/1144879/000114487922000081/0001144879-22-000081-index.htm","confidence":0.9,"family_label":"Shareholder Votes","details":[{"label":"Proposal","value":"say on pay"},{"label":"Outcome","value":"passed"},{"label":"Meeting","value":"2022-11-10"}],"fact_type":"shareholder_vote"},{"claim_id":"84981dbbdc5b390af407af36eed581ee23e11b0f","claim":"Applied Digital Corp. shareholders approved Approval of amendment to Articles of Incorporation to change company name to Applied Digital Corporation at the 2022-11-10 meeting.","evidence_excerpt":"Proposal 5 The stockholders approved the Amendment of the Company's Articles of Incorporation to change the Company name to Applied Digital Corporation. For Against Abstain Broker Non-Votes 49,418,615 14,089 7,006 11,742,889","evidence_source":"SEC 8-K Item 5.07","evidence_url":"https://www.sec.gov/Archives/edgar/data/1144879/000114487922000081/0001144879-22-000081-index.htm","confidence":0.9,"family_label":"Shareholder Votes","details":[{"label":"Proposal","value":"charter amendment"},{"label":"Outcome","value":"passed"},{"label":"Meeting","value":"2022-11-10"}],"fact_type":"shareholder_vote"},{"claim_id":"8e0df0282b5668a577924e7d3a55a7702e7089eb","claim":"Applied Digital Corp. shareholders approved Advisory vote on the frequency of the advisory vote on executive compensation at the 2022-11-10 meeting.","evidence_excerpt":"Proposal 4 The stockholders approved, on an advisory basis, the frequency of the advisory vote on the compensation of the Company's named executive officers of one year. One Year Two Years Three Years Abstain Broker Non-Votes 48,729,578 149,273 274,499 286,360 11,742,889","evidence_source":"SEC 8-K Item 5.07","evidence_url":"https://www.sec.gov/Archives/edgar/data/1144879/000114487922000081/0001144879-22-000081-index.htm","confidence":0.9,"family_label":"Shareholder Votes","details":[{"label":"Proposal","value":"say on pay frequency"},{"label":"Outcome","value":"passed"},{"label":"Meeting","value":"2022-11-10"}],"fact_type":"shareholder_vote"},{"claim_id":"c7f0e5bcf174c3bd184f6e64bc658cc630bb8c21","claim":"Applied Digital Corp. shareholders approved Ratification of the appointment of Marcum LLP as the Company's independent registered public accounting firm for the fiscal year ending May 31, 2023 at the 2022-11-10 meeting.","evidence_excerpt":"Proposal 2 The stockholders ratified the appointment of Marcum LLP as the Company's independent registered public accounting firm for the fiscal year ending May 31, 2023. For Against Abstain Broker Non-Votes 60,829,202 39,421 313,976 0","evidence_source":"SEC 8-K Item 5.07","evidence_url":"https://www.sec.gov/Archives/edgar/data/1144879/000114487922000081/0001144879-22-000081-index.htm","confidence":0.9,"family_label":"Shareholder Votes","details":[{"label":"Proposal","value":"auditor ratification"},{"label":"Outcome","value":"passed"},{"label":"Meeting","value":"2022-11-10"}],"fact_type":"shareholder_vote"},{"claim_id":"e3babd8c54656ebda68bb51b37a68693e7b365c4","claim":"Applied Digital Corp. shareholders approved Election of six director nominees at the 2022-11-10 meeting.","evidence_excerpt":"Proposal 1 The stockholders voted in favor of the election of the following director nominees as directors for a term of office expiring at the Company's 2023 Annual Meeting of Stockholders and, in each case, until his or her successor is duly elected and qualified. Nominee For Withheld Broker Non-Votes Wes Cummins 48,950,685 489,025 11,742,889 Douglas Miller 49,417,539 22,171 11,742,889 Kelli McDonald 49,236,406 203,304 11,742,889 Virginia Moore 49,236,597 203,113 11,742,889 Chuck Hastings 49,113,705 326,005 11,742,889 Richard Nottenburg 48,995,680 444,030 11,742,889","evidence_source":"SEC 8-K Item 5.07","evidence_url":"https://www.sec.gov/Archives/edgar/data/1144879/000114487922000081/0001144879-22-000081-index.htm","confidence":0.9,"family_label":"Shareholder Votes","details":[{"label":"Proposal","value":"director election"},{"label":"Outcome","value":"passed"},{"label":"Meeting","value":"2022-11-10"}],"fact_type":"shareholder_vote"}],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}