{"schema_version":"secwatch.filing_event.v1","accession":"0001493152-25-017609","form_type":"8-K","ticker":"APLD","cik":"0001144879","company_name":"Applied Digital Corp.","filed_at":"2025-10-09T23:59:59+00:00","discovered_at":"2026-05-14T18:02:38.887953+00:00","generated_at":"2026-05-17T04:09:23.365594+00:00","sec_items":["1.01","3.02","8.01","9.01"],"event_type":"other_material","sentiment":"positive","materiality_score":0.9,"calibrated_materiality_score":0.9,"confidence":"high","headline":"Applied Digital closes $112.5M initial draw from $5B Macquarie preferred equity facility for Ellendale campus.","bullets":["Initial funding of $112.5M from Macquarie Asset Management; total potential investment up to $5B.","Preferred units accrue dividends at 12.75% p.a., with step-ups; minimum 1.80x liquidation preference.","Company issued warrants to purchase 2.4M shares at $8.29, exercisable upon full $450M funding of Polaris Forge 1.","MAM may invest additional $337.5M in tranches; total $450M for first 100MW; further $4.55B for future HPC projects.","Company states no additional equity contributions anticipated for Polaris Forge 1; project financing expected soon."],"urls":{"canonical":"https://secwatch.observer/filing/0001493152-25-017609","json":"https://secwatch.observer/filing/0001493152-25-017609.json","markdown":"https://secwatch.observer/filing/0001493152-25-017609.md","text":"https://secwatch.observer/filing/0001493152-25-017609.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/1144879/000149315225017609/0001493152-25-017609-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/1144879/000149315225017609/form8-k.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-05-17T04:09:23.365594+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"}