Applied Digital Corp. Files 8-K for Material Agreement
Ticker: APLD · Form: 8-K · Filed: 2025-01-14T00:00:00.000Z
Sentiment: neutral
Topics: material-agreement, equity-securities, corporate-actions
Related Tickers: APLD
TL;DR
Applied Digital (APLD) signed a big deal on Jan 13th, more details to come.
AI Summary
On January 13, 2025, Applied Digital Corp. entered into a material definitive agreement, the details of which are not fully disclosed in this filing. The company also reported on unregistered sales of equity securities and other events. This filing follows a period of name changes for the company, previously known as Applied Blockchain, Inc. and others.
Why It Matters
This 8-K filing indicates a significant new agreement for Applied Digital Corp., which could impact its business operations and financial standing. Investors will be looking for more details on the nature and terms of this agreement.
Risk Assessment
Risk Level: medium — The filing mentions a material definitive agreement and unregistered sales of equity securities, which can introduce financial and operational risks if not managed properly.
Key Players & Entities
- Applied Digital Corp. (company) — Registrant
- January 13, 2025 (date) — Date of earliest event reported
- Applied Blockchain, Inc. (company) — Former company name
FAQ
What is the nature of the material definitive agreement entered into by Applied Digital Corp. on January 13, 2025?
The filing states that Applied Digital Corp. entered into a material definitive agreement on January 13, 2025, but the specific details of this agreement are not provided in this document.
What were the previous names of Applied Digital Corp.?
Applied Digital Corp. was formerly known as Applied Blockchain, Inc. (since April 23, 2021), Applied Science Products, Inc. (since January 18, 2011), and FLIGHT SAFETY TECHNOLOGIES INC (since September 26, 2002).
What is the filing date and the period of report for this 8-K?
This 8-K was filed on January 14, 2025, and the period of report is January 13, 2025.
What are the key items reported in this 8-K filing?
This 8-K reports on the entry into a material definitive agreement, unregistered sales of equity securities, other events, and financial statements and exhibits.
Where is Applied Digital Corp. incorporated and what is its fiscal year end?
Applied Digital Corp. is incorporated in Nevada and its fiscal year ends on May 31.
Filing Stats: 2,523 words · 10 min read · ~8 pages · Grade level 15.7 · Accepted 2025-01-14 09:15:16
Key Financial Figures
- $1,000 — nits") at a price per Preferred Unit of $1,000, for an aggregate purchase price of $22
- $225,000,000 — 000, for an aggregate purchase price of $225,000,000. In connection with the issuance of the
- $675 million — rchaser's right to invest an additional $675 million to fund the development of the remainin
- $225 million — Closing, which, when combined with the $225 million to be funded at Closing for the first 1
- $900 million — n the ELN Campus, comprises the initial $900 million investment, at the investment rate of $
- $2.25 million — n investment, at the investment rate of $2.25 million per MW, to be matched by the Company's
- $1.0 million — atched by the Company's contribution of $1.0 million per MW. The Purchaser's right to inve
- $4.1 billion — r's right to invest up to an additional $4.1 billion on the same terms of the Preferred Unit
- $750,000 — atched by the Company's contribution of $750,000 per MW. The Preferred Units are to ac
- $11.25 million — ng the Purchaser's obligation to pay an $11.25 million reverse termination fee (the "RTF") upo
- $712 m — pitalization, currently estimated to be $712 million, minus the Issuer's initial fundi
- $100 m — al funding requirement in the amount of $100 million, minus project-level debt repayme
- $180 m — t repayment, currently in the amount of $180 million, consisting of $150 million in ou
- $150 million — e amount of $180 million, consisting of $150 million in outstanding principal and a 1.20x re
- $0.001 — f the Company's common stock, par value $0.001 (the "Common Shares") at the exercise p
Filing Documents
- form8-k.htm (8-K) — 67KB
- ex10-1.htm (EX-10.1) — 888KB
- ex99-1.htm (EX-99.1) — 31KB
- ex99-1_001.jpg (GRAPHIC) — 10KB
- 0001493152-25-002040.txt ( ) — 1345KB
- apld-20250113.xsd (EX-101.SCH) — 3KB
- apld-20250113_lab.xml (EX-101.LAB) — 33KB
- apld-20250113_pre.xml (EX-101.PRE) — 24KB
- form8-k_htm.xml (XML) — 4KB
SIGNATURES
SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. APPLIED DIGITAL CORPORATION Date: January 14, 2025 By: /s/ Saidal L. Mohmand Name: Saidal L. Mohmand Title: Chief Financial Officer