---
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"
generated_at: "2026-06-14T15:41:18.346534+00:00"
event_type: "debt"
sentiment: "positive"
materiality_score: 0.55
calibrated_materiality_score: 0.55
confidence: "high"
source: SEC EDGAR
---

# Applied Digital secures $50M loan at 9% for AI cloud datacenter buildout

## Summary
- 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.

## SEC filing metadata
- 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
- event_type: debt
- sentiment: positive
- materiality_score: 0.55
- calibrated_materiality_score: 0.55
- confidence: high
- sec_items: 1.01, 9.01
- 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

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001144879-23-000152
- JSON: https://secwatch.observer/filing/0001144879-23-000152.json
- Plain text: https://secwatch.observer/filing/0001144879-23-000152.txt

## Key facts
- Material Agreements
  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).
  - Action: entry
  - Agreement: credit facility
  - Counterparty: B. Riley Commercial Capital, LLC and B. Riley Securities, Inc.
  - Value: $50,000,000
  - Effective: 2023-05-23
  source text: 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_url: https://www.sec.gov/Archives/edgar/data/1144879/000114487923000152/0001144879-23-000152-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.