secwatch.observer — SEC 8-K summary
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Issuer:     Applied Digital Corp. (APLD)
CIK:        0001144879
Form:       8-K
Filed at:   2022-11-14T23:59:59+00:00
Accession:  0001144879-22-000081
Event type: debt
Sentiment:  neutral
Materiality: 0.55
Item codes: 1.01, 2.03, 5.03, 5.07, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Applied Digital (APLD) subsidiary enters $15M loan with Vantage Bank Texas; shareholders approve name change
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- $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.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1144879/000114487922000081/0001144879-22-000081-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1144879/000114487922000081/november142022form2022annu.htm
  HTML page:      https://secwatch.observer/filing/0001144879-22-000081

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer