secwatch.observer — SEC 8-K summary
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Issuer:     Applied Digital Corp. (APLD)
CIK:        0001144879
Form:       8-K
Filed at:   2023-05-24T23:59:59+00:00
Accession:  0001144879-23-000152
Event type: debt
Sentiment:  positive
Materiality: 0.55
Item codes: 1.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1144879/000114487923000152/0001144879-23-000152-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1144879/000114487923000152/apld-20230519.htm
  HTML page:      https://secwatch.observer/filing/0001144879-23-000152

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