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AI brief of an SEC Form 8-K · Applied Digital Corp. (APLD)

Applied Digital expands credit facility to $430 million and PEPA to $2 billion

Mixed Impact 4 of 5 financing Written later

Applied Digital's subsidiary APLD Intermediate HoldCo entered into an incremental agreement that raises the revolving credit commitments under its May 29, 2026 credit agreement to $430.0 million, maturing May 28, 2029. The company also amended its Preferred Equity Purchase Agreement to lift the Series G Convertible Preferred Stock commitment from $1.59 billion to $2.0 billion, adding capacity for future equity issuance to investors.

Key points

  • Secured revolving credit facility increased to $430.0 million, maturing May 28, 2029, with up to $120.0 million more available for a total of $550.0 million
  • Credit facility priced at Term SOFR plus 2.25% or base rate plus 1.25%, guaranteed by the company and restricted subsidiaries
  • PEPA Series G Convertible Preferred Stock commitment raised from $1,590,000,000 to $2,000,000,000 under the Sixth Amendment dated June 26, 2026

The filing

CompanyApplied Digital Corp. (APLD)
Form8-K, current report
Filed with the SECJun 26, 2026, 5:03 PM ET
Accession number0001493152-26-030333

Items reported: 1.01 Material Definitive Agreement2.03 New Direct Financial Obligation3.02 Unregistered Equity Sale

Read the filing on SEC.gov ↗

Written by AI on Nov 9, 2026, 8:36 AM ET, from this filing only. Written later: this filing was briefed after the fact, when past filings were added to the site, so the brief may be read with hindsight; the filing itself is the record of what was known on June 26, 2026.

Briefs are written by AI from the filing text and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the AI's reading of the filing for shareholders, not a price forecast. Not investment advice.