Highest-materiality recent filing
APLD upsizes revolving credit facility to $430M and PEPA to $2.0B
Revolving credit commitments increased to $430M; maturity May 28, 2029; interest at SOFR + 2.25% or base rate + 1.25%.
APLD subsidiary closes $1.59B 7.000% senior secured notes due 2031 for AI factory build
Issued $1.59B aggregate principal of 7.000% Senior Secured Notes due June 15, 2031.
Applied Digital signs 210 MW lease at Delta Forge 2; total contracted revenue reaches $36B
New 15-year take-or-pay lease with U.S. investment-grade hyperscaler for 210 MW critical IT load.
Applied Digital subsidiary prices $1.59B senior secured notes at 7% for Polaris Forge 1 expansion
$1.59B aggregate principal of 7.000% senior secured notes due 2031 priced at par.
Applied Digital closes $550M revolver; subsidiary proposes $1.59B notes for ELN-04
Closed $350M committed revolver (plus $200M accordion) on May 29, 2026; matures May 2029 at SOFR+225bps.
Applied Digital completes cloud business spinoff, retains ~97% of ChronoScale (CHRN)
Contributed cloud business to Ekso Bionics; combined entity renamed ChronoScale Corp., trading on Nasdaq as CHRN as of May 5, 2026.
Applied Digital signs $7.5B hyperscaler lease at Delta Forge 1, total contracted revenue >$23B
New 15-year lease with US investment-grade hyperscaler for 300 MW IT load at Delta Forge 1 campus.
Applied Digital Q3 revenue surges 139% to $126.6M; adjusted net income $33.2M
Revenue $126.6M, up 139% YoY; net loss $100.9M (-$0.36) due to $59.7M write-down of Cloud Services.
Applied Digital restructures CoreWeave leases; obtains investment-grade credit support
CoreWeave refinanced debt for ELN-02 & ELN-03 received A3 rating (investment grade) vs BB.
Applied Digital fixes PSU award error; existing Polaris Forge data centers now count toward hurdles
Amended agreement with President Jason Zhang corrects scrivener's error that omitted existing Polaris Forge 1 data centers from PSU hurdle calculation.
Applied Digital subsidiary issues $2.15B in 6.75% senior secured notes due 2031
Notes issued at 98% by APLD ComputeCo 2 LLC; net proceeds to fund 200 MW AI campus (Polaris Forge 2) in Harwood, ND, leased to Oracle.
$2.15B aggregate principal of 6.750% senior secured notes due 2031 priced at 98% of par.
Guarantee covers $2.4B design-build contract with Babcock & Wilcox for 1.2GW power generation facility to support data centers.
APLD ComputeCo 2 LLC intends to offer $2.15B aggregate principal of senior secured notes due 2031 in private placement.
APLD to contribute cloud unit to Ekso for 97% stake; renamed ChronoScale
APLD subsidiary contributes Applied Digital Cloud Corp to Ekso for 138,216,820 shares, representing ~97% of combined equity.
Jason Zhang (President/Co-Founder) receives 1.5M PSUs and 500k RSUs; Saidal Mohmand (CFO) receives 750k PSUs and 250k RSUs.
Applied Digital appoints co-founder Jason Zhang as President, effective immediately
Jason Zhang transitions from Chief Strategy Officer to President and Co-Founder, effective Jan 14, 2026.
Applied Digital grants CEO 4.5M PSUs and 1.5M RSUs; PSUs tied to $50/$75/$100 stock price hurdles
Granted CEO Wes Cummins 4,500,000 PSUs and 1,500,000 RSUs on Jan 6, 2026; awards replace future equity for five years.
Applied Digital Q2 revenue $126.6M (+250% YoY); secures 600MW hyperscaler leases worth ~$16B
Net loss $31.2M ($0.11/sh), down 76% YoY; adjusted net income $0.1M, EBITDA $20.2M.
Applied Digital proposes spin-out of cloud business and combination with EKSO to form ChronoScale
Applied Digital will spin out its cloud business, Applied Digital Cloud, and combine with EKSO Bionics (Nasdaq: EKSO) to create ChronoScale.
Applied Digital secures $100M development loan from Macquarie for AI data centers
Initial $45M drawn Dec 18, 2025; additional $55M uncommitted second draw available.
Applied Digital subsidiary closes $2.35B of 9.25% senior secured notes due 2030
Issuer APLD ComputeCo sold $2.35B notes at 97% of par; 9.25% coupon, maturity Dec 15, 2030.
APLD ComputeCo prices $2.35B of 9.250% senior secured notes due 2030 at 97%
Net proceeds to fund construction of 100 MW and 150 MW data centers (ELN-02 and ELN-03) at Polaris Forge 1 campus in Ellendale, ND.
Second draw under $5.0B Macquarie equity facility: $787.5M expected by end of November 2025.
Applied Digital subsidiary proposes $2.35B senior secured notes due 2030 for data center buildout
APLD ComputeCo LLC intends to offer $2.35B of senior secured notes due 2030 in a private offering.
Applied Digital subsidiary plans $2.35B senior secured notes offering due 2030
APLD ComputeCo LLC intends to offer $2.35 billion aggregate principal of senior secured notes due 2030.
Lease agreement with U.S. based investment-grade hyperscaler for 200MW of critical IT load at Polaris Forge 2 Campus near Harwood, ND.
Applied Digital ups PEPA commitment to $1.59B, expands Series G preferred shares
Fourth Amendment to PEPA increases aggregate commitment from $590M to $1.590B.
Applied Digital Q1 FY2026: revenue $64.2M (+84% YoY), net loss $27.8M; signs 150 MW CoreWeave lease
Revenue $64.2M (+84% YoY); net loss $27.8M vs prior year net income $15.9M; adjusted EBITDA $0.5M (vs $6.3M).
Initial funding of $112.5M from Macquarie Asset Management; total potential investment up to $5B.
APLD secures $50M Macquarie loan for Polaris Forge 2; expands Series G preferred to $450M
$50M initial draw from Macquarie at 8% interest; up to $25M additional loans available.
Applied Digital enters Building 4 datacenter lease with CoreWeave
Lease dated August 28, 2025 between APLD ELN-02 C LLC (Applied Digital subsidiary) and CoreWeave, Inc.
Applied Digital signs third 150MW lease with CoreWeave; total lease revenue now ~$11B
New 150MW lease brings total CoreWeave capacity at Polaris Forge 1 to 400MW; building expected service-ready mid-2027.
Applied Digital increases Series G preferred equity commitment to $300M, removes put limitation
Commitment amount under Series G preferred equity purchase agreement doubled from $150M to $300M.
Applied Digital Q4 rev up 41%, signs $7B CoreWeave leases; post-Q adds $4B
Q4 revenue $38M (+41% YoY); net loss $26.6M ($0.12/sh) vs $35.3M loss prior year.
Applied Digital signs 250MW data center leases with CoreWeave for ~$7B total revenue
Two 15-year leases for 250 MW (100 MW Building 2 + 150 MW Building 3) at Ellendale, ND campus; total contract value ~$7B.
Board approved sale negotiation Feb 2025; segment held for sale as of April 10, 2025.
Applied Digital enters $150M convertible preferred facility to fund Ellendale HPC campus
Up to $150M Series G convertible preferred; 4% original issue discount; no dividends; 36-month term.
Applied Digital Q3 revenue up 22% to $52.9M, net loss widens; board approves sale of Cloud Services
Revenue $52.9M (+22% YoY); net loss $36.1M ($0.16/sh) vs $62.8M loss prior year.
APLD subsidiary enters SMBC credit facility for Ellendale data center; parent guarantees
APLD HPC Holdings (subsidiary) executed Credit and Guaranty Agreement with Sumitomo Mitsui Banking Corporation as administrative agent and lender for a term loan facility.
its former Chief Technology Officer, Michael Maniscalco, resigned, effective January 31, 2025, to pursue other opportunities
its former Chief Administrative Officer, David Rench, is transitioning to a consulting role with the Company, effective January 31, 2025
The Company’s Chief Administrative Officer, David Rench, is transitioning to a consulting role with the Company, effective January 31, 2025.
Michael Maniscalco, the Company’s Chief Technology Officer, has informed the Company that he is resigning, effective January 31, 2025, to pursue other opportunities.
On January 6, 2025, the Company welcomed Laura Laltrello as its Chief Operating Officer, effective as of January 6, 2025.
Effective October 15, 2024, David Rench, the Company’s current Chief Financial Officer since March 2021, is transitioning from his role as Chief Financial Officer to Chief Administrative Officer of the Company.
Also effective October 15, 2024, Saidal Mohmand, the Company’s current Executive Vice President of Finance, will succeed Mr. Rench as the Company’s Chief Financial Officer.
On April 30, 2024, pursuant to the Agreement described in Item 1.01 of this Current Report, the Company appointed Ms. Benson to serve as a director effective as of May 6, 2024
On February 22, 2024, Kelli McDonald and Virginia Moore resigned from the Board of Directors of the Company, effective immediately.
On February 22, 2024, Kelli McDonald and Virginia Moore resigned from the Board of Directors of the Company, effective immediately.
On February 22, 2024, Applied Digital Corporation (the “Company”) announced Rachel H. Lee was appointed as an independent director to its Board of Directors (the “Board”), effective February 22, 2024.
On September 25, 2023, the Company and Michael Maniscalco entered into an Executive Employment Agreement (the “Maniscalco Employment Agreement”), pursuant to which Mr. Maniscalco will serve as the Chief Technology Officer of the Company.
Max materiality 0.90 · Median 0.75 · Most common event other_material