8-K/A - Applied Digital Corporation | StockGist

AI Analysis

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Applied Digital Corporation amended its ELN-02 datacenter lease with CoreWeave Parent, entered a new lease with a CoreWeave subsidiary for two data halls, and assigned the ELN-03 lease to the subsidiary, with CoreWeave Parent providing credit support via guarantees and a letter of credit.

Key Takeaways

1The company amended its ELN-02 datacenter lease with CoreWeave Parent on March 30, 2026, suspending the term for two of four data halls.

2Applied Digital entered a new lease with CoreWeave Compute Acquisition Co. VIII, LLC for the two suspended data halls on substantially the same terms as the original lease.

3CoreWeave Parent assigned all rights and obligations under the ELN-03 datacenter lease to its subsidiary, CoreWeave Compute Acquisition Co. VIII, LLC, on March 30, 2026.

4CoreWeave Parent provided an Unconditional Springing Guaranty of Payment and Performance for the obligations of its subsidiary under both the new ELN-02 lease and the assigned ELN-03 lease.

5CoreWeave Parent is obligated to provide a $50,000,000 letter of credit to secure obligations under the ELN-02 Parent Lease within 30 days.

6The company determined the transactions are favorable to holders of its 9.250% notes due 2030 based on enhanced credit ratings and additional credit support.

Current Report Details

Event Type

Material Agreement

Exhibits Only

Disclosure

Amendment

Variant

8-K/A

Items Reported

1.01

Entry into a Material Definitive Agreement.** ** ** First Amendment to ELN-02 Datacenter Lease and Entry Into New Datacenter Lease As previously reported, on Ma

Material Agreement

$50.0M

Source Document

9.01

Financial Statements and Exhibits.** (d) Exhibits . | Exhibit No. | | Description | |---|---|---| | 10.1*† | | Unconditional Springing Guaranty of Payment and P

Exhibits Only

Transaction Details

Material Agreement

Agreement: First Amendment to ELN-02 Datacenter Lease, ELN-02 SPV Lease, Assignment, Assumption and Consent Agreement for ELN-03 Lease
Parties: Applied Digital Corporation, APLD ELN-02 LLC, APLD ELN-03 LLC, CoreWeave Parent, CoreWeave Compute Acquisition Co. VIII, LLC

•ELN-02 Parent Lease term suspended for two data halls
•New ELN-02 SPV Lease with CoreWeave SPV for two data halls
•ELN-02 SPV Lease conterminous with initial term of ELN-02 Parent Lease
•ELN-03 Parent Lease assigned from CoreWeave Parent to CoreWeave SPV
•CoreWeave Parent released from ELN-03 Parent Lease
•CoreWeave Parent provided Unconditional Springing Guaranty for ELN-02 SPV Lease
•CoreWeave Parent provided Unconditional Springing Guaranty for ELN-03 Parent Lease
•CoreWeave Parent obligated to provide $50,000,000 letter of credit for ELN-02 Parent Lease within 30 days

Exhibits (4)

10.1

EX-10.1

10.2

EX-10.2

10.3

EX-10.3

8-K/A