Applied Digital Corp 8-K, filed Feb 15, 2024
Applied Digital Corp. (APLD)
8-K
2024-02-15
For: 2024-02-14
View Original
Added on
April 09, 2026
About this 8-K
Applied Digital Corp filed this 8-K on February 15, 2024, reporting on events of February 14, 2024.
Items reported
- Item 7.01: Regulation FD disclosure
- Item 8.01: Other events
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549
FORM 8-K
CURRENT REPORT
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Item 7.01. Regulation FD Disclosure
On February 13, 2024, Applied Digital Corporation (the “Company”) was informed that Wind Energy Transmission of Texas (“WETT”), who services the Company’s Garden City datacenter hosting facility, would begin to perform maintenance work on a nearby transmission switching station. On February 14, 2024, the Company’s Garden City facility was de-energized to accommodate WETT’s maintenance work safely. No maintenance work or repairs are required at the Company’s datacenter hosting facility. The outage is currently expected to last three days while the overall maintenance activities are expected to last up to two weeks. While the current impact to revenues is not material, management believes that the impact to revenues could be material for the quarter ending February 29, 2024 if the outage lasts significantly longer than the current expectation of three days. The outage has no impact on our HPC hosting datacenters under construction, which are being designed to provide higher levels of availability in accordance with industry standards. The outage also has no impact on our Cloud services business as those services are provided using third-party facilities.
Item 8.01. Other Events
As previously disclosed, on January 18, 2024, the Company began experiencing a power outage at our Ellendale datacenter hosting facility, resulting in a complete outage by January 19, 2024. As of February 15, 2024, the required upgrades to ensure stability of our electrical supply were completed by our electricity provider and the facility is now re-energized. The outage had no impact on our HPC hosting datacenters under construction, which are being designed to provide higher levels of availability in accordance with industry standards. The outage also had no impact on our Cloud services business as those services are provided using third-party facilities.
This Current Report on Form 8-K contains "forward-looking statements" as defined in the Private Securities Litigation Reform Act of 1995 regarding, among other things, future operating and financial performance, product development, market position, business strategy and objectives. These statements use words, and variations of words, such as "continue," "build," "future," "increase," "drive," "believe," "look," "ahead," "confident," "deliver," "outlook," "expect," and "predict." Other examples of forward-looking statements may include, but are not limited to, (i) statements of Company plans and objectives, including our evolving business model, or estimates or predictions of actions by suppliers, (ii) statements of future economic performance, and (iii) statements of assumptions underlying other statements and statements about the Company or its business. You are cautioned not to rely on these forward-looking statements. These statements are based on current expectations of future events and thus are inherently subject to uncertainty. If underlying assumptions prove inaccurate or known or unknown risks or uncertainties materialize, actual results could vary materially from the Company's expectations and projections. These risks, uncertainties, and other factors include: decline in demand for our products and services; the volatility of the crypto asset industry; the inability to comply with developments and changes in regulation; cash flow and access to capital; and maintenance of third party relationships. Information in this release is as of the dates and time periods indicated herein, and the Company does not undertake to update any of the information contained in these materials, except as required by law.
Item 9.01. Financial Statements and Exhibits
EXHIBIT INDEX
| Exhibit No. | Description | |||||||
| 104 | Cover Page Interactive Data File (embedded within the Inline XBRL document). | |||||||
SIGNATURE
Pursuant to the requirements of Section 13 or 15 (d) of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
| Dated: | February 15, 2024 | By: | /s/ David Rench | |||||||||||
| Name: | David Rench | |||||||||||||
| Title: | Chief Financial Officer | |||||||||||||