---
schema_version: "secwatch.filing_event.v1"
accession: "0001493152-25-021400"
form_type: "8-K"
ticker: "APLD"
cik: "0001144879"
company_name: "Applied Digital Corp."
filed_at: "2025-11-10T23:59:59+00:00"
generated_at: "2026-05-16T22:15:10.013894+00:00"
event_type: "debt"
sentiment: "neutral"
materiality_score: 0.7
calibrated_materiality_score: 0.7
confidence: "high"
source: SEC EDGAR
---

# Applied Digital subsidiary proposes $2.35B senior secured notes due 2030 for data center buildout

## Summary
- APLD ComputeCo LLC intends to offer $2.35B of senior secured notes due 2030 in a private offering.
- Net proceeds will fund construction of 100 MW and 150 MW data centers (ELN-02 and ELN-03) at Ellendale campus.
- Proceeds also repay existing debt under Sumitomo Mitsui Banking Corporation credit agreement and fund Debt Service Reserve.
- Applied Digital will provide completion guarantees for the Facilities.
- Notes and guarantees secured by first-priority liens on substantially all assets of APLD ComputeCo and its subsidiaries.

## SEC filing metadata
- accession: 0001493152-25-021400
- form_type: 8-K
- ticker: APLD
- cik: 0001144879
- company_name: Applied Digital Corp.
- filed_at: 2025-11-10T23:59:59+00:00
- event_type: debt
- sentiment: neutral
- materiality_score: 0.7
- calibrated_materiality_score: 0.7
- confidence: high
- sec_items: 8.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1144879/000149315225021400/0001493152-25-021400-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1144879/000149315225021400/form8-k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001493152-25-021400
- JSON: https://secwatch.observer/filing/0001493152-25-021400.json
- Plain text: https://secwatch.observer/filing/0001493152-25-021400.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.