---
schema_version: "secwatch.filing_event.v1"
accession: "0001807707-23-000095"
form_type: "8-K"
ticker: null
cik: "0001807707"
company_name: "AppHarvest, Inc."
filed_at: "2023-07-17T23:59:59+00:00"
generated_at: "2026-06-13T07:50:25.539827+00:00"
event_type: "debt"
sentiment: "negative"
materiality_score: 0.95
calibrated_materiality_score: 0.95
confidence: "high"
source: SEC EDGAR
---

# AppHarvest receives $47.2M acceleration demand from lender; CEO replaced by COO

## Summary
- Rabo AgriFinance demanded immediate repayment of $47.2M for default on Master Credit Agreement; interest rate increases 5%.
- Collateral includes Morehead, KY farm; Rabo may pursue foreclosure or receiver, potentially causing bankruptcy.
- Founder Jonathan Webb becomes Chief Strategy Officer; COO Anthony Martin appointed CEO, effective immediately.
- Gary Broadbent appointed Chief Legal Officer and Chief Restructuring Officer; board approves Key Executive Compensation Plan.
- Executive lump-sum awards: $540K each to Martin, Eggleton, Webb; $850K to Broadbent, subject to clawback.

## SEC filing metadata
- accession: 0001807707-23-000095
- form_type: 8-K
- cik: 0001807707
- company_name: AppHarvest, Inc.
- filed_at: 2023-07-17T23:59:59+00:00
- event_type: debt
- sentiment: negative
- materiality_score: 0.95
- calibrated_materiality_score: 0.95
- confidence: high
- sec_items: 2.04, 5.02, 7.01, 8.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1807707/000180770723000095/0001807707-23-000095-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1807707/000180770723000095/apph-20230711.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001807707-23-000095
- JSON: https://secwatch.observer/filing/0001807707-23-000095.json
- Plain text: https://secwatch.observer/filing/0001807707-23-000095.txt

## Key facts
- Debt Financings
  AppHarvest, Inc. faced acceleration on credit facility of $47.213,671.03 with Rabo AgriFinance LLC at rate applicable to the unpaid principal balance under the Credit Agreement plus.
  - Instrument: credit facility
  - Principal: $47.213,671.03
  - Counterparty: Rabo AgriFinance LLC
  - Rate: rate applicable to the unpaid principal balance under the Credit Agreement plus
  - Event: acceleration
  source text: certain principal and interest amounts due and payable under the Credit Agreement on July 3, 2023. Pursuant to the Notice of Acceleration, Rabo demanded immediate repayment of $47.213,671.03 consisting of principal and accrued interest, as well as repayment of any additional fees, costs, charges and other obligations as may be payable or become payable under
  evidence_url: https://www.sec.gov/Archives/edgar/data/1807707/000180770723000095/0001807707-23-000095-index.htm
- Executive change
  Gary Broadbent was appointed as Chief Legal Officer and Chief Restructuring Officer at AppHarvest, Inc..
  - Action: appointed
  - Role: Chief Legal Officer and Chief Restructuring Officer
  source text: On July 11, 2023, the Board of Directors (the “ Board ”) of AppHarvest, Inc. (together with its affiliates, as applicable, the “ Company ”) appointed Gary Broadbent to serve as the Company’s Chief Legal Officer and Chief Restructuring Officer effective immediately in addition to his position as Corporate Secretary.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1807707/000180770723000095/0001807707-23-000095-index.htm
- Executive change
  Anthony Martin was appointed as Chief Executive Officer at AppHarvest, Inc..
  - Action: appointed
  - Role: Chief Executive Officer
  source text: Anthony Martin to serve as the Company’s Chief Executive Officer in lieu of his position as Chief Operating Officer
  evidence_url: https://www.sec.gov/Archives/edgar/data/1807707/000180770723000095/0001807707-23-000095-index.htm
- Executive change
  Jonathan Webb was appointed as Chief Strategy Officer at AppHarvest, Inc..
  - Action: appointed
  - Role: Chief Strategy Officer
  source text: On July 12, 2023, the Board appointed Jonathan Webb to serve as the Company’s Chief Strategy Officer in lieu of his position as Chief Executive Officer
  evidence_url: https://www.sec.gov/Archives/edgar/data/1807707/000180770723000095/0001807707-23-000095-index.htm

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