{"schema_version":"secwatch.filing_event.v1","accession":"0001641172-25-008007","form_type":"8-K","ticker":"APLD","cik":"0001144879","company_name":"Applied Digital Corp.","filed_at":"2025-05-01T23:59:59+00:00","discovered_at":"2026-05-14T18:02:47.645762+00:00","generated_at":"2026-05-22T23:44:54.371577+00:00","sec_items":["1.01","5.03","1.02","3.02","8.01","9.01"],"event_type":"debt","sentiment":"neutral","materiality_score":0.7,"calibrated_materiality_score":0.7,"confidence":"high","headline":"Applied Digital enters $150M convertible preferred facility to fund Ellendale HPC campus","bullets":["Up to $150M Series G convertible preferred; 4% original issue discount; no dividends; 36-month term.","Company has sole discretion to draw in $25M increments; no minimum commitment or penalties for non-use.","Conversion price = greater of 95% of 5-day VWAP floor and $4.25 initial floor (can be reduced to $1.34).","Proceeds to fund development of Ellendale HPC Campus and for general corporate purposes.","Terminated prior Standby Equity Purchase Agreement with YA II PN effective May 7, 2025; no early termination penalties."],"urls":{"canonical":"https://secwatch.observer/filing/0001641172-25-008007","json":"https://secwatch.observer/filing/0001641172-25-008007.json","markdown":"https://secwatch.observer/filing/0001641172-25-008007.md","text":"https://secwatch.observer/filing/0001641172-25-008007.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/1144879/000164117225008007/0001641172-25-008007-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/1144879/000164117225008007/form8-k.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-05-22T23:44:54.371577+00:00"},"review":{"review_status":"machine_generated","human_reviewed":false,"corrected":false,"correction_note":null,"correction_timestamp":null,"superseded_by":null,"related_filings":[]},"source_grounded_claims":[],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}