secwatch.observer — SEC 8-K summary
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Issuer:     AppHarvest, Inc. (—)
CIK:        0001807707
Form:       8-K
Filed at:   2023-07-17T23:59:59+00:00
Accession:  0001807707-23-000095
Event type: debt
Sentiment:  negative
Materiality: 0.95
Item codes: 2.04, 5.02, 7.01, 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1807707/000180770723000095/0001807707-23-000095-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1807707/000180770723000095/apph-20230711.htm
  HTML page:      https://secwatch.observer/filing/0001807707-23-000095

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