secwatch.observer — SEC 8-K summary
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Issuer:     Applied Digital Corp. (APLD)
CIK:        0001144879
Form:       8-K
Filed at:   2025-06-02T23:59:59+00:00
Accession:  0001641172-25-013199
Event type: other_material
Sentiment:  positive
Materiality: 0.85
Item codes: 1.01, 3.02, 7.01, 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Applied Digital signs 250MW data center leases with CoreWeave for ~$7B total revenue
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- Two 15-year leases for 250 MW (100 MW Building 2 + 150 MW Building 3) at Ellendale, ND campus; total contract value ~$7B.
- Building 2 ready for service Q4 2025; Building 3 mid-2026; CoreWeave option for additional 150 MW (planned 2027).
- Issued CoreWeave warrant for 13,062,521 shares at $7.19; may issue additional warrants under Letter Agreement.
- Targets up to $200M ATM offering of common stock to fund growth, starting as early as week of June 2, 2025.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1144879/000164117225013199/0001641172-25-013199-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1144879/000164117225013199/form8-k.htm
  HTML page:      https://secwatch.observer/filing/0001641172-25-013199

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