Applied Digital (APLD) Falls 7.5% After New $787 Million Financing

Core Viewpoint - Applied Digital Corp. (NASDAQ:APLD) experienced significant selling pressure, dropping 7.56% to close at $26.41 after announcing a $787.5 million funding secured from Macquarie Asset Management [1][5]. Funding and Financial Details - The $787.5 million is part of a larger $5 billion perpetual preferred equity financing facility aimed at supporting the development of Polaris Forge 1 and 2 data centers in North Dakota [2]. - Of the total funding, $450 million is designated for the completion of Forge 2, which has a capacity to power 1 GW of critical IT load, with 200 MW already leased to a US-based Investment Grade Hyperscaler [3]. - The remaining funds will be allocated for Forge 1 [3]. - Additionally, Applied Digital entered into a loan agreement with First National Bank of Omaha for up to $65 million in revolving loans and letters of credit, carrying an interest rate of 2.75% per annum, secured by all of the company's assets [4][5].