Applied Digital Corp. (APLD): debt financing — Applied Digital subsidiary issues $2.15B in 6.75% senior secured notes due 2031

Applied Digital Corp.

Notes issued at 98% by APLD ComputeCo 2 LLC; net proceeds to fund 200 MW AI campus (Polaris Forge 2) in Harwood, ND, leased to Oracle.
Interest 6.75% semi-annual; maturity March 2031; amortization starts after final lease commencement date.
CFO Saidal Mohmand awarded $750,000 bonus for completing financings for Polaris Forge 1 and 2 campuses.
Gross proceeds deposited in escrow until conditions met; parent Applied Digital provides completion guarantee.
Indenture restricts additional debt, dividends, asset sales; change-of-control repurchase at 101% of principal.

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 senior notes of $2.15 billion with Goldman Sachs & Co. LLC as representative of the several initial purchasers named in Schedule I thereto at 6.750% per annum maturing March 15, 2031.

Instrument: senior notes
Principal: $2.15 billion
Counterparty: Goldman Sachs & Co. LLC as representative of the several initial purchasers named in Schedule I thereto
Rate: 6.750% per annum
Maturity: March 15, 2031
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 $2.15 billion. The notes were issued at a price equal to 98.000% of their principal amount. The Issuer intends to use the net proceeds from the offering to fund the development and

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Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

Applied Digital Corp. entered into Indenture with Wilmington Trust, National Association valued at $2.15 billion (effective 2026-03-10).

Action: entry
Agreement: notes offering
Counterparty: Wilmington Trust, National Association
Value: $2.15 billion
Effective: 2026-03-10

Exact text from the filing

ccount) in accordance with the provisions of the indenture governing the notes, and to pay related fees and expenses, including transaction

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10 debt financings filed in the last 30 days. Browse all debt financings →

Applied Digital Corp. filing history →

Source: SEC EDGAR

accession 0001493152-26-009538

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