---
schema_version: "secwatch.filing_event.v1"
accession: "0001493152-26-006897"
form_type: "8-K"
ticker: "APLD"
cik: "0001144879"
company_name: "Applied Digital Corp."
filed_at: "2026-02-17T23:59:59+00:00"
generated_at: "2026-05-16T02:20:26.492274+00:00"
event_type: "m_and_a"
sentiment: "positive"
materiality_score: 0.85
calibrated_materiality_score: 0.85
confidence: "high"
source: SEC EDGAR
---

# APLD to contribute cloud unit to Ekso for 97% stake; renamed ChronoScale

## Summary
- APLD subsidiary contributes Applied Digital Cloud Corp to Ekso for 138,216,820 shares, representing ~97% of combined equity.
- Ekso will rename to ChronoScale Corporation; APLD designees to hold 4 of 7 board seats post-closing.
- Closing expected Q2 2026; conditions include stockholder approval, PIPE investment with minimum $15M cash.
- Initial APLD board designees: Wes Cummins (Chairman), Jason Zhang, Ella Benson, Richard Nottenburg.
- Pre-closing PIPE investment will be dilutive to both Ekso legacy stockholders and APLD's Cloud.

## SEC filing metadata
- accession: 0001493152-26-006897
- form_type: 8-K
- ticker: APLD
- cik: 0001144879
- company_name: Applied Digital Corp.
- filed_at: 2026-02-17T23:59:59+00:00
- event_type: m_and_a
- sentiment: positive
- materiality_score: 0.85
- calibrated_materiality_score: 0.85
- confidence: high
- sec_items: 1.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1144879/000149315226006897/0001493152-26-006897-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1144879/000149315226006897/form8-k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001493152-26-006897
- JSON: https://secwatch.observer/filing/0001493152-26-006897.json
- Plain text: https://secwatch.observer/filing/0001493152-26-006897.txt

## Key facts
- Material Agreements
  Applied Digital Corp. entered into Contribution and Exchange Agreement with Ekso Bionics Holdings, Inc. (effective 2026-02-15).
  - Action: entry
  - Agreement: merger
  - Counterparty: Ekso Bionics Holdings, Inc.
  - Effective: 2026-02-15
  source text: On February 15, 2026, APLD Intermediate HoldCo LLC, a Delaware limited liability company ("APLD Intermediate"), APLD ChronoScale HoldCo LLC, a Delaware limited liability company and a wholly owned subsidiary of APLD Intermediate ("Contributor"), each a wholly owned direct or indirect subsidiary of Applied Digital Corporation, a Nevada corporation ("APLD" or the "Company"), and Applied Digital Cloud Corporation, a Nevada corporation, which at the time of the Closing (as defined below), will be a wholly owned subsidiary of Contributor ("Cloud"), entered into a Contribution and Exchange Agreement with Ekso Bionics Holdings, Inc., a Nevada corporation ("Ekso") (the "Contribution and Exchange Agreement") for purposes of consummating a business combination
  evidence_url: https://www.sec.gov/Archives/edgar/data/1144879/000149315226006897/0001493152-26-006897-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.