Applied Digital (APLD) Prices $2.15B Private Offering for North Dakota AI Factory

Group 1 - Applied Digital Corporation (NASDAQ:APLD) announced a $2.15 billion private offering of 6.750% senior secured notes due 2031, priced at 98% for qualified institutional buyers and non-US persons [1][3] - The net proceeds from the offering will finance the development of 200 megawatts of critical IT load at the Polaris Forge 2 AI Factory campus in Harwood, North Dakota, and cover project account requirements and related expenses [2][4] - The notes will be guaranteed by several existing and future subsidiaries of APLD ComputeCo 2, backed by first-priority liens on all assets of the issuer and its guarantors [3] Group 2 - Applied Digital Corporation designs, develops, and operates digital infrastructure solutions for the HPC and AI industries in North America, operating through Data Center Hosting and HPC Hosting businesses [4]