Applied Digital subsidiary closes $2.35B of 9.25% senior secured notes due 2030

Applied Digital Corp.

Issuer APLD ComputeCo sold $2.35B notes at 97% of par; 9.25% coupon, maturity Dec 15, 2030.
Proceeds to fund construction of 100MW and 150MW data centers (ELN-02, ELN-03) at Ellendale campus.
Also repays existing February 2025 credit facility with Sumitomo Mitsui Banking Corp.
Parent Applied Digital provides a completion guarantee for the projects.
Notes amortize semi-annually starting Dec 15, 2027; optional redemption at make-whole prior to Dec 2027.

item 1.01 item 2.03 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.99

Applied Digital Corp. incurred senior notes of $2.35 billion at 9.250% per annum maturing December 15, 2030.

Instrument: senior notes
Principal: $2.35 billion
Rate: 9.250% per annum
Maturity: December 15, 2030
Event: incurrence

Exact text from the filing

Act”), and outside the United States to non-U.S. persons in reliance on Regulation S under the Securities Act. The aggregate principal amount of notes sold in the offering was $2.35 billion. The notes were issued at a price equal to 97.000% of their principal amount. The Issuer intends to use the net proceeds from the offering to fund a portion of the construction

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Source: SEC EDGAR

accession 0001493152-25-024479

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