{"schema_version":"secwatch.filing_event.v1","accession":"0001144879-23-000152","form_type":"8-K","ticker":"APLD","cik":"0001144879","company_name":"Applied Digital Corp.","filed_at":"2023-05-24T23:59:59+00:00","discovered_at":"2026-05-14T18:03:38.062176+00:00","generated_at":"2026-06-14T15:41:18.346534+00:00","sec_items":["1.01","9.01"],"event_type":"debt","sentiment":"positive","materiality_score":0.55,"calibrated_materiality_score":0.55,"confidence":"high","headline":"Applied Digital secures $50M loan at 9% for AI cloud datacenter buildout","bullets":["Loan principal: $50M with $36.5M advanced at closing; $13.5M discretionary. Maturity: 2 years.","Interest rate: 9.0% per annum; proceeds to fund AI Cloud platform and datacenter expansion.","Company subsidiary SAI Computing LLC is borrower; Applied Digital guarantees obligations.","Lenders are B. Riley Commercial Capital and B. Riley Securities; loan is secured by borrower assets."],"urls":{"canonical":"https://secwatch.observer/filing/0001144879-23-000152","json":"https://secwatch.observer/filing/0001144879-23-000152.json","markdown":"https://secwatch.observer/filing/0001144879-23-000152.md","text":"https://secwatch.observer/filing/0001144879-23-000152.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/1144879/000114487923000152/0001144879-23-000152-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/1144879/000114487923000152/apld-20230519.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-06-14T15:41:18.346534+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":"90f2a3b280dcd228e8bba1c9b2d8dc593abfd7f5","claim":"Applied Digital Corp. entered into Loan and Security Agreement with B. Riley Commercial Capital, LLC and B. Riley Securities, Inc. valued at $50,000,000 (effective 2023-05-23).","evidence_excerpt":"On May 23, 2023, SAI Computing LLC (the “Borrower”), a wholly-owned subsidiary of Applied Digital Corporation (the “Company”), entered into a Loan and Security Agreement with B. Riley Commercial Capital, LLC and B. Riley Securities, Inc. ( the “Lenders”), B. Riley Commercial Capital, LLC, as Collateral Agent, and the Company as Guarantor (the “Loan and Security Agreement”).","evidence_source":"SEC 8-K Item 1.01/1.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/1144879/000114487923000152/0001144879-23-000152-index.htm","confidence":0.9,"family_label":"Material Agreements","details":[{"label":"Action","value":"entry"},{"label":"Agreement","value":"credit facility"},{"label":"Counterparty","value":"B. Riley Commercial Capital, LLC and B. Riley Securities, Inc."},{"label":"Value","value":"$50,000,000"},{"label":"Effective","value":"2023-05-23"}],"fact_type":"material_agreement"}],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}