(RTTNews) - Applied Digital Corporation (APLD) on Monday said its subsidiary, APLD ComputeCo LLC, intends to offer $2.35 billion of senior secured notes due 2030 in a private placement.
The company plans to use the net proceeds from the offering to fund construction and related expenses for its 100 MW and 150 MW data centers at Applied Digital's 400 MW Ellendale, North Dakota campus, repay existing debt under its February 2025 Credit and Guaranty Agreement, fund the Debt Service Reserve Account as required by the notes' indenture, and cover transaction expenses.
Applied Digital shares were up 2.8% at $31.78 in pre-market trading.
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