---
schema_version: "secwatch.filing_event.v1"
accession: "0001493152-25-024479"
form_type: "8-K"
ticker: "APLD"
cik: "0001144879"
company_name: "Applied Digital Corp."
filed_at: "2025-11-20T23:59:59+00:00"
generated_at: "2026-05-16T17:52:56.609200+00:00"
event_type: "debt"
sentiment: "positive"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

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

## Summary
- 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.

## SEC filing metadata
- accession: 0001493152-25-024479
- form_type: 8-K
- ticker: APLD
- cik: 0001144879
- company_name: Applied Digital Corp.
- filed_at: 2025-11-20T23:59:59+00:00
- event_type: debt
- sentiment: positive
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 1.01, 2.03, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1144879/000149315225024479/0001493152-25-024479-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1144879/000149315225024479/form8-k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001493152-25-024479
- JSON: https://secwatch.observer/filing/0001493152-25-024479.json
- Plain text: https://secwatch.observer/filing/0001493152-25-024479.txt

## Key facts
- Debt Financings
  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
  source text: 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
  evidence_url: https://www.sec.gov/Archives/edgar/data/1144879/000149315225024479/0001493152-25-024479-index.htm

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