{"schema_version":"secwatch.filing_event.v1","accession":"0001493152-25-029408","form_type":"8-K","ticker":"APLD","cik":"0001144879","company_name":"Applied Digital Corp.","filed_at":"2025-12-29T23:59:59+00:00","discovered_at":"2026-05-14T18:02:38.890444+00:00","generated_at":"2026-05-16T12:04:17.766900+00:00","sec_items":["7.01","9.01"],"event_type":"m_and_a","sentiment":"neutral","materiality_score":0.75,"calibrated_materiality_score":0.75,"confidence":"medium","headline":"Applied Digital proposes spin-out of cloud business and combination with EKSO to form ChronoScale","bullets":["Applied Digital will spin out its cloud business, Applied Digital Cloud, and combine with EKSO Bionics (Nasdaq: EKSO) to create ChronoScale.","Applied Digital would own ~97% of the combined company; ChronoScale expected to close H1 2026, subject to due diligence and approvals.","Applied Digital Cloud generated ~$75.2M trailing 12-month revenue as of Aug 31, 2025, with strong AI workload demand.","EKSO plans to pursue sale of its current exoskeleton business after the transaction, per CEO Scott Davis.","Transaction is non-binding term sheet; ChronoScale to be purpose-built GPU platform for AI workloads."],"urls":{"canonical":"https://secwatch.observer/filing/0001493152-25-029408","json":"https://secwatch.observer/filing/0001493152-25-029408.json","markdown":"https://secwatch.observer/filing/0001493152-25-029408.md","text":"https://secwatch.observer/filing/0001493152-25-029408.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/1144879/000149315225029408/0001493152-25-029408-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/1144879/000149315225029408/form8-k.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-05-16T12:04:17.766900+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"}