{"schema_version":"secwatch.filing_event.v1","accession":"0001144879-23-000074","form_type":"8-K","ticker":"APLD","cik":"0001144879","company_name":"Applied Digital Corp.","filed_at":"2023-02-21T23:59:59+00:00","discovered_at":"2026-05-14T18:03:43.982098+00:00","generated_at":"2026-06-19T06:27:33.822394+00:00","sec_items":["1.01","5.03","9.01"],"event_type":"debt","sentiment":"neutral","materiality_score":0.6,"calibrated_materiality_score":0.6,"confidence":"high","headline":"Applied Digital secures $20M loan for Ellendale data center expansion; creates Series E Preferred Stock","bullets":["$20M term loan from Starion Bank at 7.48% fixed, matures Feb 3, 2028, secured by Ellendale Facility.","Loan proceeds to fund expansion of next-generation data center near Ellendale, North Dakota.","Created 5M shares of Series E Preferred Stock with 8% annual dividend, $25 stated value, and optional redemption features.","Preferred stock dividends payable in cash or common stock, subject to 18.8M share cap without shareholder approval.","Company guaranteed the loan via unlimited corporate guaranty; loan also secured by assignment of hosting agreements."],"urls":{"canonical":"https://secwatch.observer/filing/0001144879-23-000074","json":"https://secwatch.observer/filing/0001144879-23-000074.json","markdown":"https://secwatch.observer/filing/0001144879-23-000074.md","text":"https://secwatch.observer/filing/0001144879-23-000074.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/1144879/000114487923000074/0001144879-23-000074-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/1144879/000114487923000074/apld-20230214.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-06-19T06:27:33.822394+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":"cbdeaa1a183e03208613916b5d886f1247cb17df","claim":"Applied Digital Corp.: Filed Certificate of Designation for Series E Preferred Stock, establishing its rights, privileges, preferences, and restrictions (effective 2023-02-14).","evidence_excerpt":"On February 14, 2023, the Company filed a Certificate of Designation of Rights, Privileges, Preferences, and Restrictions of Series E Preferred Stock (the “Certificate of Designation”) with the Secretary of State of the State of Nevada to establish the rights, privileges, preferences, and restricts of the Series E Preferred Stock. The Certificate of Designation became effective upon filing on February 14, 2023.","evidence_source":"SEC 8-K Item 5.03/5.05/5.06","evidence_url":"https://www.sec.gov/Archives/edgar/data/1144879/000114487923000074/0001144879-23-000074-index.htm","confidence":0.9,"family_label":"Governance Changes","details":[{"label":"Change","value":"charter amendment"},{"label":"Effective","value":"2023-02-14"}],"fact_type":"governance_change"},{"claim_id":"4ef464bd8e2fb3d7ad9c3b454204e0fa74bb5ee8","claim":"Applied Digital Corp. entered into Loan Agreement with Starion Bank valued at $20,000,000 (effective 2023-02-16).","evidence_excerpt":"On February 16, 2023, APLD ELN-01 LLC (the “Borrower”), a wholly-owned subsidiary of Applied Digital Corporation (the “Company”), entered into a Loan Agreement with Starion Bank (“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/1144879/000114487923000074/0001144879-23-000074-index.htm","confidence":0.95,"family_label":"Material Agreements","details":[{"label":"Action","value":"entry"},{"label":"Agreement","value":"credit facility"},{"label":"Counterparty","value":"Starion Bank"},{"label":"Value","value":"$20,000,000"},{"label":"Effective","value":"2023-02-16"}],"fact_type":"material_agreement"}],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}