{"schema_version":"secwatch.filing_event.v1","accession":"0001493152-25-006049","form_type":"8-K","ticker":"APLD","cik":"0001144879","company_name":"Applied Digital Corp.","filed_at":"2025-02-12T23:59:59+00:00","discovered_at":"2026-05-14T18:03:03.040132+00:00","generated_at":"2026-05-26T22:43:16.031518+00:00","sec_items":["1.01","2.03","8.01","9.01"],"event_type":"debt","sentiment":"positive","materiality_score":0.7,"calibrated_materiality_score":0.7,"confidence":"high","headline":"Applied Digital closes $375M SMBC loan for Ellendale HPC campus; repays Macquarie note","bullets":["$375M term loan from Sumitomo Mitsui Banking Corp (SMBC) closed Feb 11, 2025.","Proceeds used to repay Macquarie Equipment Capital note and fund Ellendale HPC development.","Loan matures 18 months; interest rates SOFR+350bps initially, stepping to SOFR+550bps after year one.","Company plans permanent project financing (75-85% debt-to-equity, SOFR+250bps) after hyperscaler lease.","UPA amendment with Macquarie Asset Management extends pre-closing deadline to Feb 28, 2025."],"urls":{"canonical":"https://secwatch.observer/filing/0001493152-25-006049","json":"https://secwatch.observer/filing/0001493152-25-006049.json","markdown":"https://secwatch.observer/filing/0001493152-25-006049.md","text":"https://secwatch.observer/filing/0001493152-25-006049.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/1144879/000149315225006049/0001493152-25-006049-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/1144879/000149315225006049/form8-k.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-05-26T22:43:16.031518+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":[],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}