---
schema_version: "secwatch.filing_event.v1"
accession: "0001493152-26-008849"
form_type: "8-K"
ticker: "APLD"
cik: "0001144879"
company_name: "Applied Digital Corp."
filed_at: "2026-03-04T23:59:59+00:00"
generated_at: "2026-05-15T21:26:13.414712+00:00"
event_type: "other_material"
sentiment: "neutral"
materiality_score: 0.7
calibrated_materiality_score: 0.7
confidence: "high"
source: SEC EDGAR
---

# Applied Digital guarantees $2.4B design-build contract for 1.2GW power plant; receives 10% equity in Base Electron

## Summary
- Guarantee covers $2.4B design-build contract with Babcock & Wilcox for 1.2GW power generation facility to support data centers.
- Base Electron will issue 10% of its equity to Applied Digital as partial consideration for the guarantee.
- Applied Digital may terminate guarantee if Base Electron lists on exchange, raises $50M+, or pays $50-100M fee.
- Base Electron is a related-party entity formed by Applied Digital executives and directors.

## SEC filing metadata
- accession: 0001493152-26-008849
- form_type: 8-K
- ticker: APLD
- cik: 0001144879
- company_name: Applied Digital Corp.
- filed_at: 2026-03-04T23:59:59+00:00
- event_type: other_material
- sentiment: neutral
- materiality_score: 0.7
- calibrated_materiality_score: 0.7
- confidence: high
- sec_items: 1.01, 2.03, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1144879/000149315226008849/0001493152-26-008849-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1144879/000149315226008849/form8-k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001493152-26-008849
- JSON: https://secwatch.observer/filing/0001493152-26-008849.json
- Plain text: https://secwatch.observer/filing/0001493152-26-008849.txt

## Source-grounded claims
- claim_id: b0f26b7f0766a2a5022fd3a31622539d1b430809
  claim: Applied Digital Corp. entered an off-balance-sheet arrangement for guarantee of approximately $2.4 billion with The Babcock & Wilcox Company.
  evidence_excerpt: the “Guarantee”) in favor of The Babcock & Wilcox Company (NYSE: BW) (“B&W”), pursuant to which Applied Digital has agreed to unconditionally and irrevocably guarantee the full and timely performance by Base Electron, Inc.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1144879/000149315226008849/0001493152-26-008849-index.htm
- claim_id: a3e7eae58c35c209690864ab019cf2ce7d32a93e
  claim: Applied Digital Corp. entered into Guarantee with The Babcock & Wilcox Company (effective 2026-02-26).
  evidence_excerpt: On February 26, 2026, Applied Digital Corporation (“Applied Digital” or the “Company”) entered into a Guarantee (the “Guarantee”) in favor of The Babcock & Wilcox Company (NYSE: BW) (“B&W”), pursuant to which Applied Digital has agreed to unconditionally and irrevocably guarantee the full and timely performance by Base Electron, Inc. (“Base Electron”) of its obligations under that certain Design-Build Agreement, dated February 26, 2026, by and between Base Electron and B&W (the “Design-Build Agreement”).
  evidence_url: https://www.sec.gov/Archives/edgar/data/1144879/000149315226008849/0001493152-26-008849-index.htm

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