Applied Digital Corporation announced the closing of a $150 million senior secured debt financing with Macquarie Equipment Capital, Inc., a division of Macquarie Group’s Commodities and Global Markets’ business. This transaction was completed on November 27, 2024, through its subsidiary, APLD Holdings 2, LLC.
The proceeds from this financing were used to repay obligations under the Senior Secured Credit Facility with CIM Group, which simultaneously removed encumbrances on assets outside of APLD Holdings 2, LLC, as well as the parent guarantee. This new 18-month Promissory Note bears a low interest rate of 0.25% per annum and carries no commitment fee or original issue discount.
In connection with this financing, Macquarie received warrants for 1,035,197 shares of Applied Digital Common Stock with a strike price of $9.66 per share. This partnership is expected to improve the cost of capital for the Ellendale project and provide greater flexibility to support other growing areas of the business.
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