{"schema_version":"secwatch.filing_event.v1","accession":"0001493152-25-024479","form_type":"8-K","ticker":"APLD","cik":"0001144879","company_name":"Applied Digital Corp.","filed_at":"2025-11-20T23:59:59+00:00","discovered_at":"2026-05-14T18:02:38.889824+00:00","generated_at":"2026-05-16T17:52:56.609200+00:00","sec_items":["1.01","2.03","9.01"],"event_type":"debt","sentiment":"positive","materiality_score":0.75,"calibrated_materiality_score":0.75,"confidence":"high","headline":"Applied Digital subsidiary closes $2.35B of 9.25% senior secured notes due 2030","bullets":["Issuer APLD ComputeCo sold $2.35B notes at 97% of par; 9.25% coupon, maturity Dec 15, 2030.","Proceeds to fund construction of 100MW and 150MW data centers (ELN-02, ELN-03) at Ellendale campus.","Also repays existing February 2025 credit facility with Sumitomo Mitsui Banking Corp.","Parent Applied Digital provides a completion guarantee for the projects.","Notes amortize semi-annually starting Dec 15, 2027; optional redemption at make-whole prior to Dec 2027."],"urls":{"canonical":"https://secwatch.observer/filing/0001493152-25-024479","json":"https://secwatch.observer/filing/0001493152-25-024479.json","markdown":"https://secwatch.observer/filing/0001493152-25-024479.md","text":"https://secwatch.observer/filing/0001493152-25-024479.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/1144879/000149315225024479/0001493152-25-024479-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/1144879/000149315225024479/form8-k.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-05-16T17:52:56.609200+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":[{"claim_id":"ed67d5ea173ad33cfbf2acc6fdcb737f090b5f22","claim":"Applied Digital Corp. incurred senior notes of $2.35 billion at 9.250% per annum maturing December 15, 2030.","evidence_excerpt":"Act”), and outside the United States to non-U.S. persons in reliance on Regulation S under the Securities Act. The aggregate principal amount of notes sold in the offering was $2.35 billion. The notes were issued at a price equal to 97.000% of their principal amount. The Issuer intends to use the net proceeds from the offering to fund a portion of the construction","evidence_source":"SEC 8-K Item 2.03/2.04","evidence_url":"https://www.sec.gov/Archives/edgar/data/1144879/000149315225024479/0001493152-25-024479-index.htm","confidence":0.99,"family_label":"Debt Financings","details":[{"label":"Instrument","value":"senior notes"},{"label":"Principal","value":"$2.35 billion"},{"label":"Rate","value":"9.250% per annum"},{"label":"Maturity","value":"December 15, 2030"},{"label":"Event","value":"incurrence"}]}],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}