secwatch.observer — SEC 8-K summary
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Issuer:     Applied Digital Corp. (APLD)
CIK:        0001144879
Form:       8-K
Filed at:   2026-03-04T23:59:59+00:00
Accession:  0001493152-26-008849
Event type: other_material
Sentiment:  neutral
Materiality: 0.70
Item codes: 1.01, 2.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1144879/000149315226008849/0001493152-26-008849-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1144879/000149315226008849/form8-k.htm
  HTML page:      https://secwatch.observer/filing/0001493152-26-008849

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