{"schema_version":"secwatch.filing_event.v1","accession":"0001493152-25-028791","form_type":"8-K","ticker":"APLD","cik":"0001144879","company_name":"Applied Digital Corp.","filed_at":"2025-12-22T23:59:59+00:00","discovered_at":"2026-05-14T18:02:38.890239+00:00","generated_at":"2026-05-16T12:23:31.696204+00:00","sec_items":["1.01","2.03","7.01","9.01"],"event_type":"debt","sentiment":"positive","materiality_score":0.75,"calibrated_materiality_score":0.75,"confidence":"high","headline":"Applied Digital secures $100M development loan from Macquarie for AI data centers","bullets":["Initial $45M drawn Dec 18, 2025; additional $55M uncommitted second draw available.","Loan bears 8.0% interest, PIK for first 12 months; matures Dec 18, 2027 or earlier if lease signed.","Proceeds fund pre-lease development costs for new AI factory campuses; company in advanced talks with investment-grade hyperscaler.","Loan secured by assets of APLD DevCo and guaranteed by Parent; Macquarie as lender.","Northland Securities and Credit Agricole, RBC, TD, TCBI acted as placement agent and financial advisors."],"urls":{"canonical":"https://secwatch.observer/filing/0001493152-25-028791","json":"https://secwatch.observer/filing/0001493152-25-028791.json","markdown":"https://secwatch.observer/filing/0001493152-25-028791.md","text":"https://secwatch.observer/filing/0001493152-25-028791.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/1144879/000149315225028791/0001493152-25-028791-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/1144879/000149315225028791/form8-k.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-05-16T12:23:31.696204+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":"2f37d122766123cede97c9ed3a1d617f8b07755f","claim":"Applied Digital Corp. incurred loan of $45 million with Macquarie Equipment Capital, Inc. at 8.0% per annum maturing December 18, 2027.","evidence_excerpt":"by, among other documents, a promissory note (the “Promissory Note”) executed by the Borrower in favor of the Lender. The Promissory Note provides for a principal sum of (a) $45 million (the “First Draw”), which was drawn on the Closing Date, plus (b) $55 million (the “Second Draw,” and, together with the First Draw, each, a “Draw” and, collectively, the","evidence_source":"SEC 8-K Item 2.03/2.04","evidence_url":"https://www.sec.gov/Archives/edgar/data/1144879/000149315225028791/0001493152-25-028791-index.htm","confidence":0.9,"family_label":"Debt Financings","details":[{"label":"Instrument","value":"loan"},{"label":"Principal","value":"$45 million"},{"label":"Counterparty","value":"Macquarie Equipment Capital, Inc."},{"label":"Rate","value":"8.0% per annum"},{"label":"Maturity","value":"December 18, 2027"},{"label":"Event","value":"incurrence"}]}],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}