Applied Digital Corporation has closed a $150 million senior secured debt financing with Macquarie Equipment Capital, Inc. The 18-month promissory note bears a 0.25% annual interest rate and was used to refinance existing debt, including repaying obligations under a Senior Secured Credit Facility with CIM Group. This move lowers Applied Digital's overall cost of capital for its Ellendale High Performance Computing data center campus.The new financing structure removes the parent guarantee and liens from non-HPC entities, providing greater flexibility for future corporate and project-level debt financings. As part of the deal, Macquarie received warrants for 1,035,197 shares of Applied Digital common stock with a $9.66 per share strike price. The remaining net proceeds will be used to repay other outstanding...Show More

Applied Digital Corporation has closed a $150 million senior secured debt financing with Macquarie Equipment Capital, Inc. The 18-month promissory note bears a 0.25% annual interest rate and was used to refinance existing debt, including repaying obligations under a Senior Secured Credit Facility with CIM Group. This move lowers Applied Digital's overall cost of capital for its Ellendale High Performance Computing data center campus.The new financing structure removes the parent guarantee and liens from non-HPC entities, providing greater flexibility for future corporate and project-level debt financings. As part of the deal, Macquarie received warrants for 1,035,197 shares of Applied Digital common stock with a $9.66 per share strike price. The remaining net proceeds will be used to repay other outstanding debt and cover transaction expenses.Applied Digital CEO Wes Cummins highlighted the partnership with Macquarie as validation of the Ellendale HPC project and a potential avenue for future opportunities. The company, which develops next-generation data centers for AI and high-performance computing workloads, views this financing as strategic support for its ongoing growth in the AI infrastructure sector.