Applied Digital secures $100M development loan from Macquarie for AI data centers

Applied Digital Corp.

Initial $45M drawn Dec 18, 2025; additional $55M uncommitted second draw available.
Loan bears 8.0% interest, PIK for first 12 months; matures Dec 18, 2027 or earlier if lease signed.
Proceeds fund pre-lease development costs for new AI factory campuses; company in advanced talks with investment-grade hyperscaler.
Loan secured by assets of APLD DevCo and guaranteed by Parent; Macquarie as lender.
Northland Securities and Credit Agricole, RBC, TD, TCBI acted as placement agent and financial advisors.

Key facts

Extracted from this filing and checked against the source text.

Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.9

Applied Digital Corp. incurred loan of $45 million with Macquarie Equipment Capital, Inc. at 8.0% per annum maturing December 18, 2027.

Instrument: loan
Principal: $45 million
Counterparty: Macquarie Equipment Capital, Inc.
Rate: 8.0% per annum
Maturity: December 18, 2027
Event: incurrence

Exact text from the filing

by, among other documents, a promissory note (the “Promissory Note”) executed by the Borrower in favor of the Lender. The Promissory Note provides for a principal sum of (a) $45 million (the “First Draw”), which was drawn on the Closing Date, plus (b) $55 million (the “Second Draw,” and, together with the First Draw, each, a “Draw” and, collectively, the

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Source: SEC EDGAR

accession 0001493152-25-028791

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