<p>Applied Digital Corporation (NASDAQ: APLD) announced that its subsidiary, APLD ComputeCo LLC, intends to offer $2.35 billion in aggregate principal amount of senior secured notes due 2030. The offering will be conducted as a private placement to qualified institutional buyers under Rule 144A of the Securities Act of 1933. The net proceeds from the offering are intended to fund the construction and associated expenses of the company’s 100 MW and 150 MW data centers (ELN-02 and ELN-03) at its 400 MW Ellendale, North Dakota campus, repay outstanding debt under a Credit and Guaranty Agreement, fund a Debt Service Reserve Account, and cover transaction expenses. The notes will be fully and unconditionally guaranteed by certain existing and future subsidiaries of APLD Compute and will be secured by first-priority liens on substantially all assets of the issuer and the guarantors. The offering is subject to market conditions, and pricing, maturity, and interest rate details were not disclosed in the announcement. The notes have not been registered under the Securities Act and may not be offered or sold in the United States without registration or an applicable exemption. Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. Applied Digital Corporation published the original content used to generate this news brief via GlobeNewswire (Ref. ID: GNW9572359-en) on November 10, 2025, and is solely responsible for the information contained therein. © Copyright 2025 - Public Technologies (PUBT)</p>

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<p>Applied Digital Announces $2.35 Billion Senior Secured Notes Offering</p>