secwatch.observer — SEC 8-K summary
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Issuer:     Applied Digital Corp. (APLD)
CIK:        0001144879
Form:       8-K
Filed at:   2025-11-20T23:59:59+00:00
Accession:  0001493152-25-024479
Event type: debt
Sentiment:  positive
Materiality: 0.75
Item codes: 1.01, 2.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1144879/000149315225024479/0001493152-25-024479-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1144879/000149315225024479/form8-k.htm
  HTML page:      https://secwatch.observer/filing/0001493152-25-024479

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