{"schema_version":"secwatch.filing_event.v1","accession":"0001493152-25-021955","form_type":"8-K","ticker":"APLD","cik":"0001144879","company_name":"Applied Digital Corp.","filed_at":"2025-11-12T23:59:59+00:00","discovered_at":"2026-05-14T18:02:38.889418+00:00","generated_at":"2026-05-16T20:54:03.152105+00:00","sec_items":["8.01","9.01"],"event_type":"other_material","sentiment":"positive","materiality_score":0.85,"calibrated_materiality_score":0.85,"confidence":"high","headline":"Applied Digital secures $787.5M Macquarie equity draw and $65M credit facility for AI campus buildout","bullets":["Second draw under $5.0B Macquarie equity facility: $787.5M expected by end of November 2025.","$450M allocated to Polaris Forge 2 (Harwood, ND); $337.5M to Polaris Forge 1 (Ellendale, ND) subject to $2.35B notes offering.","Polaris Forge 2 has 200 MW leased to an investment-grade hyperscaler; first right of refusal for additional 800 MW.","New $65M revolving credit with First National Bank of Omaha at SOFR+2.75%, secured by company assets.","First data hall at Polaris Forge 1 achieved Ready-for-Service milestone; both campuses on schedule."],"urls":{"canonical":"https://secwatch.observer/filing/0001493152-25-021955","json":"https://secwatch.observer/filing/0001493152-25-021955.json","markdown":"https://secwatch.observer/filing/0001493152-25-021955.md","text":"https://secwatch.observer/filing/0001493152-25-021955.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/1144879/000149315225021955/0001493152-25-021955-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/1144879/000149315225021955/form8-k.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-05-16T20:54:03.152105+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"}