Applied digital secures additional financing

Dallas, feb. 06, 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 high-performance computing (“hpc”) applications, announced that effective january 30, 2024, the company obtained an unsecured loan with a maximum principal amount of $20 million. the company intends to use the loan, which has a two-year term and 12.5% interest rate, to provide additional liquidity to fund the buildout of its hpc data centers. additionally, the company has secured $16 million in site-level financing for its jamestown hpc facility, which is expected to close in the coming weeks.
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