Applied Digital Increases Preferred Equity Commitment to $2.0B

Applied Digital Corp. announced an increase in its preferred equity commitment and expanded its revolving credit facility. The company amended its Preferred Equity Purchase Agreement, raising the aggregate commitment for Series G Convertible Preferred Stock issuance from $1.59 billion to $2.0 billion. Concurrently, its subsidiary, APLD Intermediate HoldCo LLC, modified its Credit Agreement, increasing the revolving credit commitments to $430.0 million, with a potential for an additional $120.0 million, bringing the total facility to $550.0 million. These actions enhance the company's financial flexibility and access to capital.