---
schema_version: "secwatch.filing_event.v1"
accession: "0001144879-24-000095"
form_type: "8-K"
ticker: "APLD"
cik: "0001144879"
company_name: "Applied Digital Corp."
filed_at: "2024-04-30T23:59:59+00:00"
generated_at: "2026-06-03T04:04:17.071743+00:00"
event_type: "debt"
sentiment: "neutral"
materiality_score: 0.65
calibrated_materiality_score: 0.65
confidence: "high"
source: SEC EDGAR
---

# Applied Digital amends AI Bridge note, allows stock repayment, issues 3M warrants

## Summary
- Amendment lets Applied Digital repay up to $24.5M principal note with common stock; aggregate share cap set at 24,532,449 shares (19.99% of outstanding).
- Multiple of principal repayment reduced from 1.30x to 1.25x on the AI Bridge Funding note.
- Issued warrants for 3M shares: 1.5M at $7.50/strike and 1.5M at $10.00/strike, exercisable over 5 years.
- Warrants offered in unregistered transaction under Rule 506(b); stock issuance will use effective S-3 shelf.

## SEC filing metadata
- accession: 0001144879-24-000095
- form_type: 8-K
- ticker: APLD
- cik: 0001144879
- company_name: Applied Digital Corp.
- filed_at: 2024-04-30T23:59:59+00:00
- event_type: debt
- sentiment: neutral
- materiality_score: 0.65
- calibrated_materiality_score: 0.65
- confidence: high
- sec_items: 1.01, 3.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1144879/000114487924000095/0001144879-24-000095-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1144879/000114487924000095/apld-20240426.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001144879-24-000095
- JSON: https://secwatch.observer/filing/0001144879-24-000095.json
- Plain text: https://secwatch.observer/filing/0001144879-24-000095.txt

## Key facts
- Material Agreements
  Applied Digital Corp. amended AI Amendment with AI Bridge Funding LLC (effective 2024-04-26).
  - Action: amendment
  - Counterparty: AI Bridge Funding LLC
  - Effective: 2024-04-26
  source text: On April 26, 2024, Applied Digital Corporation (the “Company”) entered into Amendment No. 2 (the “AI Amendment”) to that certain Unsecured Promissory Note made by the Corporation on January 30, 2024 and amended on March 27, 2024 (as amended by the AI Amendment, the “AI Note”) in favor of AI Bridge Funding LLC (the “Holder”).
  evidence_url: https://www.sec.gov/Archives/edgar/data/1144879/000114487924000095/0001144879-24-000095-index.htm

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