secwatch.observer — SEC 8-K summary
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Issuer:     Applied Digital Corp. (APLD)
CIK:        0001144879
Form:       8-K
Filed at:   2025-12-22T23:59:59+00:00
Accession:  0001493152-25-028791
Event type: debt
Sentiment:  positive
Materiality: 0.75
Item codes: 1.01, 2.03, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Applied Digital secures $100M development loan from Macquarie for AI data centers
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- 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.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1144879/000149315225028791/0001493152-25-028791-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1144879/000149315225028791/form8-k.htm
  HTML page:      https://secwatch.observer/filing/0001493152-25-028791

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer