---
schema_version: "secwatch.filing_event.v1"
accession: "0001575872-23-000707"
form_type: "8-K"
ticker: null
cik: "0000008328"
company_name: "Applied Minerals, Inc."
filed_at: "2023-05-11T23:59:59+00:00"
generated_at: "2026-06-15T05:21:15.889429+00:00"
event_type: "debt"
sentiment: "negative"
materiality_score: 0.85
calibrated_materiality_score: 0.85
confidence: "high"
source: SEC EDGAR
---

# Applied Minerals receives default notice on $31.3M Series A Notes

## Summary
- Failed to make principal and interest payment on 10% PIK-Election Convertible Notes due May 1, 2023.
- Outstanding principal and interest totaling approximately $31.3 million are immediately due.
- Event of Default triggered under section 7(a) of the Series A Notes.
- Notice of Default received from holders on May 5, 2023.

## SEC filing metadata
- accession: 0001575872-23-000707
- form_type: 8-K
- cik: 0000008328
- company_name: Applied Minerals, Inc.
- filed_at: 2023-05-11T23:59:59+00:00
- event_type: debt
- sentiment: negative
- materiality_score: 0.85
- calibrated_materiality_score: 0.85
- confidence: high
- sec_items: 2.04
- EDGAR index: https://www.sec.gov/Archives/edgar/data/8328/000157587223000707/0001575872-23-000707-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/8328/000157587223000707/amnl-20230505.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001575872-23-000707
- JSON: https://secwatch.observer/filing/0001575872-23-000707.json
- Plain text: https://secwatch.observer/filing/0001575872-23-000707.txt

## Key facts
- Debt Financings
  Applied Minerals, Inc. faced acceleration on convertible notes of approximately $31.3 million with holders of its 10% PIK-Election Convertible Notes due May 1, 2023 at 10% maturing May 1, 2023.
  - Instrument: convertible notes
  - Principal: approximately $31.3 million
  - Counterparty: holders of its 10% PIK-Election Convertible Notes due May 1, 2023
  - Rate: 10%
  - Maturity: May 1, 2023
  - Event: acceleration
  source text: On May 5, 2023, the Company received a Notice of Default from holders of its 10% PIK-Election Convertible Notes due May 1, 2023 ("Series A Notes"). The Company failed to make payment of principal and interest under the terms of the Series A Notes, which have a Stated Maturity Date of May 1, 2023, thereby causing an Event of Default under section 7(a) of the Series A Notes. Under the Event of Default, all outstanding principal and interest of the Series A Notes, totaling approximately $31.3 million, are immediately due.
  evidence_url: https://www.sec.gov/Archives/edgar/data/8328/000157587223000707/0001575872-23-000707-index.htm

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