secwatch.observer — SEC 8-K summary
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Issuer:     Applied Digital Corp. (APLD)
CIK:        0001144879
Form:       8-K
Filed at:   2026-06-09T12:01:31+00:00
Accession:  0001493152-26-027857
Event type: debt
Sentiment:  positive
Materiality: 0.85
Item codes: 7.01, 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Applied Digital closes $550M revolver; subsidiary proposes $1.59B notes for ELN-04
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- Closed $350M committed revolver (plus $200M accordion) on May 29, 2026; matures May 2029 at SOFR+225bps.
- Proceeds to support pre/post-lease data center development and general corporate purposes.
- Subsidiary APLD ComputeCo 3 proposes $1.59B senior secured notes due 2031 for 150MW ELN-04 at Polaris Forge 1.
- Net proceeds will fund construction, repay bridge loan from Goldman Sachs, and pay expenses.
- Signed MoU with CoreWeave to assign ELN-04 lease to a CoreWeave subsidiary if it achieves investment grade rating.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1144879/000149315226027857/0001493152-26-027857-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1144879/000149315226027857/form8-k.htm
  HTML page:      https://secwatch.observer/filing/0001493152-26-027857

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