Applied digital closes $150 million senior secured note with macquarie equipment capital, inc. to refinance existing credit facility with former senior lender

Dallas, dec. 02, 2024 (globe newswire) -- applied digital corporation (nasdaq: apld) (“applied digital" or the “company"), a designer, builder and operator of next-generation digital infrastructure designed for hpc applications, announced today that the company, through its subsidiary, apld holdings 2, llc, closed a $150 million senior secured debt financing with macquarie equipment capital, inc., a division of macquarie group's commodities and global markets' business (“macquarie”). apld holdings 2, llc issued a promissory note (the “note”) for the full $150 million in gross proceeds on november 27th, 2024, and simultaneously repaid its obligations under the senior secured credit facility with cim group, removing encumbrances on assets outside of apld holdings 2, as well as the parent guarantee. the remaining net proceeds will be used to repay other outstanding debt and pay transaction expenses.
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