secwatch.observer — SEC 8-K summary
======================================

Issuer:     Applied Digital Corp. (APLD)
CIK:        0001144879
Form:       8-K
Filed at:   2024-03-05T23:59:59+00:00
Accession:  0001144879-24-000053
Event type: debt
Sentiment:  positive
Materiality: 0.55
Item codes: 1.01, 2.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Applied Digital closes $16M loan for Jamestown HPC data center campus
---------------------------------------------------------------------

- $16M loan from Cornerstone Bank and Bank of North Dakota; 5-year term to March 1, 2029.
- Interest rate 8.590% per annum; secured by personal property and GPU contracts.
- Loan guaranteed by Applied Digital and subsidiaries SAI Computing and APLD Hosting.
- Proceeds to finance improvements to 10MW Jamestown HPC data center for GPU/AI workloads.
- Starion Bank subordinated its mortgage on the Jamestown Facility to Cornerstone Bank.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1144879/000114487924000053/0001144879-24-000053-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1144879/000114487924000053/apld-20240228.htm
  HTML page:      https://secwatch.observer/filing/0001144879-24-000053

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