Applied Digital Corporation filed an amended current report to add a missing exhibit to a previously filed Form 8-K. The amendment attaches Exhibit 10.1, a Building 4 Datacenter Lease dated August 28, 2025, between subsidiary APLD ELN-02 C LLC and CoreWeave, Inc. No other information from the original Form 8-K, including Items 1.01, 3.02 and 8.01, has been changed.
Applied Digital Corporation has filed a post-effective amendment that converts a prior Form S-1 into a Form S-3ASR to register the resale of up to 14,174,070 shares of common stock issued in a 2024 private placement. These PIPE shares were originally part of a 49,382,720-share issuance at $3.24 per share that raised approximately $160 million in gross proceeds; the company will not receive proceeds from the selling stockholders’ resales.
The company designs, develops and operates digital infrastructure for blockchain and high‑performance computing, with 286 MW of crypto hosting capacity in North Dakota and a 3‑building Polaris Forge 1 AI campus under development in Ellendale. All revenue from continuing operations in fiscal 2025 came from a single crypto hosting customer. As of August 26, 2025, 262,049,118 common shares were outstanding.
Recent capital and commercial developments include a preferred equity purchase agreement for up to $300 million of Series G preferred stock, all previously issued Series G having converted into common shares, a $200 million at‑the‑market program with 15.3 million shares sold to date, and multi‑year CoreWeave data center leases at Polaris Forge 1 totaling 400 MW of capacity plus related stock warrants.
Applied Digital Corporation entered into a new long-term datacenter lease with CoreWeave for Building 4 at its 400MW Polaris Forge 1 campus in Ellendale, North Dakota. Building 4 will add 150MW of capacity and brings CoreWeave’s total leased capacity at the site to 400MW. The facility is in the design phase and is expected to be service-ready in mid 2027.
The Building 4 Lease runs for approximately 15 years with an expected total contract value of about $4.0 billion, and Applied Digital has guaranteed its subsidiary’s obligations under the lease. In connection with the agreement, the company issued CoreWeave a warrant to purchase up to 8,393,611 shares of common stock at an exercise price of $10.75 per share. The warrant and underlying shares were issued as unregistered securities in reliance on a private offering exemption, and the company agreed to register the resale of the warrant shares under an existing registration rights agreement.
Applied Digital Corporation entered into a first amendment to its preferred equity purchase agreement to expand financing for its Polaris Forge I data center in North Dakota. The change increases the aggregate commitment for its Series G Convertible Preferred Stock from $150 million to $300 million and removes a prior $75 million cap on any single put issuance, giving the company more flexibility in how much preferred equity it can draw at one time.
The company also amended the Series G certificate of designations to raise the initial conversion floor price to $12.50 from $4.25 and to increase the minimum level to which that floor price can be reduced to $4.33 from $1.34. The floor price sets the minimum level for converting the Series G preferred into common stock, which can only be lowered if the company chooses to do so.
Jane Street Group and affiliated entities disclosed a combined 5.5% ownership of Applied Digital Corp. common stock, representing 14,120,497 shares. The filing breaks ownership across subsidiaries: Jane Street Options, LLC holds 7,589,237 shares (3.0%), Jane Street Global Trading, LLC holds 6,531,260 shares (2.5%), and Jane Street Capital, LLC reports 0 shares. All reported shares are listed as shared voting and dispositive power. The issuer’s principal office address is shown as 3811 Turtle Creek Blvd., Suite 2100, Dallas, Texas. The filing includes a certification that the holdings were not acquired to change or influence control of the issuer.
Applied Digital Corporation (APLD) director Chuck Hastings reported a sale of common stock on August 12, 2025. The filing shows 30,000 shares were disposed of at a weighted-average price of $14.73, sold in multiple transactions at prices ranging from $14.60 to $14.85. After the sale, the reporting person beneficially owned 501,612 shares, a total that includes 28,606 restricted stock units granted December 27, 2024 that vest in full on November 20, 2025 subject to continued service. The Form 4 was signed by an attorney-in-fact on August 14, 2025.
Applied Digital Corporation (APLD) Form 4 shows that Jason Gechen Zhang, identified as the company’s Chief Strategy Officer, was granted 750,000 restricted stock units (RSUs) on 08/08/2025. The filing records the transaction as an acquisition of Common Stock at $0 and reports 1,299,046 shares beneficially owned following the reported transaction, held directly.
The RSUs represent a contingent right to receive common shares on a one-for-one basis, have no expiration date, and vest subject to continued employment: one-third on March 12, 2026 and one-sixth on September 12, 2026, March 12, 2027, September 12, 2027, and March 12, 2028. The Form 4 was signed by Mark Chavez as attorney-in-fact on 08/12/2025.
Applied Digital Corp (APLD) insider disclosure shows Zhang Jason Gechen, identified as Chief Strategy Officer, directly beneficially owns 549,046 shares. The Form 3 reflects an event dated 08/08/2025 and was filed by one reporting person. No derivative securities were reported. Exhibit 24 notes a power of attorney and the form bears the signature of Mark Chavez as Attorney-in-Fact dated 08/12/2025.
Richard N. Nottenburg, a director of Applied Digital Corporation (APLD), reported a sale of common stock on 08/08/2025. The filing shows 11,250 shares were sold in multiple transactions at a weighted average price of $14.22, with execution prices ranging from $14.2150 to $14.2201. After the reported sale, the Reporting Person beneficially owned 317,987 shares.
The disclosure also details equity awards: 28,606 RSUs granted 12/27/2024 that vest in full on 11/20/2025, and 200,000 restricted shares granted 05/13/2024 that vest in two tranches of 100,000 on 05/13/2026 and 05/13/2027, tied to continued board service. The form was signed by an attorney-in-fact on 08/11/2025.
Applied Digital Corporation (APLD) filed a Form 144 reporting a proposed sale of 11,250 common shares through Morgan Stanley Smith Barney LLC, with an aggregate market value of $159,966 and an approximate sale date of 08/08/2025 on NASDAQ. The filing lists total shares outstanding as 261,519,794, and identifies the lots as restricted stock acquired from the issuer on 05/13/2025.
The notice also discloses a recent sale by Richard N. Nottenburg of 13,686 common shares on 08/04/2025 for $171,075. The signer makes the required representation that they are unaware of any material nonpublic adverse information and references compliance with trading-plan and Rule 10b5-1 provisions where applicable.