8-K/A
filed April 1, 2026, 7:59 PM ET
ticker APLD
CIK 0001144879
other material
confidence high
sentiment positive
materiality 0.70
Applied Digital restructures CoreWeave leases; obtains investment-grade credit support
Applied Digital Corp.
- CoreWeave refinanced debt for ELN-02 & ELN-03 received A3 rating (investment grade) vs BB.
- CoreWeave provides springing guaranties for both SPV leases and $50M letter of credit for ELN-02.
- For ELN-03, lease assigned to CoreWeave SPV; CoreWeave Parent released from obligations.
- Applied Digital says transactions are favorable to holders of its 9.250% notes due 2030.
Key facts
Extracted from this filing and checked against the source text.
Material Agreements
SEC 8-K Item 1.01/1.02
confidence 0.9
Applied Digital Corp. entered into ELN-03 Guaranty with CoreWeave Parent valued at Unconditional Springing Guaranty of Payment and Performance in connection with CoreWeave SPV's oblig (effective 2026-03-30).
- Action
- entry
- Counterparty
- CoreWeave Parent
- Value
- Unconditional Springing Guaranty of Payment and Performance in connection with CoreWeave SPV's oblig
- Effective
- 2026-03-30
Exact text from the filing
CoreWeave Parent also provided an Unconditional Springing Guaranty of Payment and Performance in connection with CoreWeave SPV’s obligations under the ELN-03 Parent Lease (the “ELN-03 Guaranty”), similar to the ELN-02 Guaranty.
View on SEC.gov
Material Agreements
SEC 8-K Item 1.01/1.02
confidence 0.9
Applied Digital Corp. amended ELN-02 Parent Lease Amendment with CoreWeave Parent valued at Amendment to suspend the term for two of the four data halls covered by the ELN-02 Parent Lease. (effective 2026-03-30).
- Action
- amendment
- Agreement
- lease
- Counterparty
- CoreWeave Parent
- Value
- Amendment to suspend the term for two of the four data halls covered by the ELN-02 Parent Lease.
- Effective
- 2026-03-30
Exact text from the filing
On March 30, 2026, the Company and CoreWeave Parent amended the ELN-02 Parent Lease to suspend the term for two of the four data halls covered by the lease (the “ELN-02 Parent Lease Amendment”)
View on SEC.gov
Material Agreements
SEC 8-K Item 1.01/1.02
confidence 0.9
Applied Digital Corp. entered into ELN-02 SPV Lease with CoreWeave Compute Acquisition Co. VIII, LLC valued at New datacenter lease for two data halls on substantially the same terms as the ELN-02 Parent Lease, (effective 2026-03-30).
- Action
- entry
- Agreement
- lease
- Counterparty
- CoreWeave Compute Acquisition Co. VIII, LLC
- Value
- New datacenter lease for two data halls on substantially the same terms as the ELN-02 Parent Lease,
- Effective
- 2026-03-30
Exact text from the filing
the Company entered into a new datacenter lease with CoreWeave Compute Acquisition Co. VIII, LLC (“CoreWeave SPV”), a wholly owned subsidiary of CoreWeave Parent, for those two data halls on substantially the same terms as the ELN-02 Parent Lease (the “ELN-02 SPV Lease”).
View on SEC.gov
Material Agreements
SEC 8-K Item 1.01/1.02
confidence 0.9
Applied Digital Corp. entered into ELN-03 Assignment Agreement with CoreWeave SPV valued at Assignment of all rights and obligations under the ELN-03 Parent Lease from CoreWeave Parent to Core (effective 2026-03-30).
- Action
- entry
- Counterparty
- CoreWeave SPV
- Value
- Assignment of all rights and obligations under the ELN-03 Parent Lease from CoreWeave Parent to Core
- Effective
- 2026-03-30
Exact text from the filing
On March 30, 2026, CoreWeave Parent entered into an Assignment, Assumption and Consent Agreement with CoreWeave SPV and APLD ELN-03 LLC (the “Assignment Agreement”), assigning all of CoreWeave Parent’s rights and obligations under the ELN-03 Parent Lease to CoreWeave SPV for the remaining term of the ELN-03 Parent Lease and releasing CoreWeave Parent from the ELN-03 Parent Lease.
View on SEC.gov
Material Agreements
SEC 8-K Item 1.01/1.02
confidence 0.9
Applied Digital Corp. entered into ELN-02 Guaranty with CoreWeave Parent valued at Unconditional Springing Guaranty of Payment and Performance in connection with CoreWeave SPV's oblig (effective 2026-03-30).
- Action
- entry
- Counterparty
- CoreWeave Parent
- Value
- Unconditional Springing Guaranty of Payment and Performance in connection with CoreWeave SPV's oblig
- Effective
- 2026-03-30
Exact text from the filing
On March 30, 2026, as further credit enhancement, CoreWeave Parent delivered to APLD ELN-02 LLC an Unconditional Springing Guaranty of Payment and Performance (the “ELN-02 Guaranty”) in connection with CoreWeave SPV’s obligations under the ELN-02 SPV Lease.
View on SEC.gov
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