Applied Digital closes $550M revolver; subsidiary proposes $1.59B notes for ELN-04

Applied Digital Corp.

Closed $350M committed revolver (plus $200M accordion) on May 29, 2026; matures May 2029 at SOFR+225bps.
Proceeds to support pre/post-lease data center development and general corporate purposes.
Subsidiary APLD ComputeCo 3 proposes $1.59B senior secured notes due 2031 for 150MW ELN-04 at Polaris Forge 1.
Net proceeds will fund construction, repay bridge loan from Goldman Sachs, and pay expenses.
Signed MoU with CoreWeave to assign ELN-04 lease to a CoreWeave subsidiary if it achieves investment grade rating.

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