Applied Digital (APLD) on Monday said its subsidiary, APLD ComputeCo 2 intends to offer $2.15 billion aggregate principal amount of senior secured notes due 2031 in a private offering.
APLD Compute 2 intends to use the net proceeds from the offering to fund the development and construction of 200 megawatts of critical IT load at Polaris Forge 2, its AI Factory campus in Harwood, North Dakota, as well as the “Project Accounts” in accordance with the provisions of the indenture governing the notes, and to pay related fees and expenses, including transaction expenses.
