Applied Digital Corp.

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.

Applied Digital Corp.'s subsidiary, APLD ComputeCo 2 LLC, announced the satisfaction of the Escrow Agreement condition related to its previously reported private offering of notes. As a result, the funds held in the Escrow Account, representing the gross proceeds from the offering, have been released to the Issuer. These funds will now be applied as per the terms of the Escrow Agreement and Indenture.

Applied Digital Corporation's subsidiary, APLD ComputeCo 3 LLC, completed a private offering of $1.59 billion in 7.000% Senior Secured Notes due 2031. The notes, issued at 100% of their principal amount, will fund the construction of 150 megawatts of IT load at the Polaris Forge 1 AI Factory campus in North Dakota. Additionally, proceeds will be used to repay a bridge loan facility from Goldman Sachs Bank USA, fund debt service reserves, and cover transaction expenses. Applied Digital Corp. has provided a completion guarantee for the related projects.

Applied Digital Corp. announced a long-term lease agreement for 210 MW of critical IT load at its Delta Forge 2 AI Factory campus. The 15-year take-or-pay lease with a U.S. hyperscaler is valued at approximately $5.2 billion in base-term revenue, potentially reaching $12.7 billion with renewal options. This expansion brings the company's total contracted portfolio to roughly $36 billion across five campuses. Additionally, Applied Digital updated its investor presentation, which is now available on its website.

Applied Digital Corporation's subsidiary, APLD ComputeCo 3 LLC, has priced a $1.59 billion offering of 7.000% senior secured notes due 2031 at par. The proceeds will primarily fund the construction of 150 megawatts of critical IT load at the ELN-04 building at its Polaris Forge 1 AI Factory campus in North Dakota, repay a bridge loan, and cover debt service reserves and transaction expenses. The notes are secured by first-priority liens on assets of APLD ComputeCo 3 and its guarantors, with Applied Digital providing a customary completion guarantee for the ELN-04 project. The offering is expected to close around June 16, 2026.

Applied Digital Corporation announced that its subsidiary, APLD ComputeCo 3 LLC, plans to offer $1.59 billion in senior secured notes due 2031. The net proceeds from this private offering are intended to fund the construction of 150 megawatts of critical IT load at the fourth building (ELN-04) of its Polaris Forge 1 AI Factory campus in Ellendale, North Dakota. Additionally, the funds will be used to repay an existing bridge loan facility, fund debt service reserves, and cover transaction expenses. The offering is subject to market conditions.

Applied Digital has secured a new 15-year take-or-pay lease agreement for 210 MW at its Delta Forge 2 AI Factory campus with a U.S. based high investment-grade hyperscaler. This agreement represents approximately $5.2 billion in base-term contracted revenue, potentially reaching $12.7 billion with renewal options over 30 years. This marks the company's fifth AI Factory campus and expands its total contracted portfolio to 1.4 GW of critical IT load and approximately $36 billion in base-term revenue, with 70% backed by investment-grade hyperscalers. Initial operations for Delta Forge 2 are expected to commence in Q1 2028.

Applied Digital Corporation announced the closing of a $350 million revolving credit facility, arranged by Goldman Sachs, with an additional $200 million accordion option. The funds will be used for data center project development, working capital, and general corporate purposes, enhancing the company's financial flexibility amid accelerating demand for AI and high-performance computing infrastructure. Additionally, the company entered a Memorandum of Understanding with CoreWeave to assign a lease for Building 3 at the Polaris Forge 1 campus, contingent on CoreWeave's subsidiary achieving an investment grade credit rating.

Applied Digital announced a long-term lease agreement for its fourth AI Factory campus, Polaris Forge 3, with a U.S. based high investment-grade hyperscaler. The 15-year take-or-pay lease is valued at approximately $7.5 billion in base-term contracted revenue, with a potential value of up to $18.2 billion if all options are exercised. This 300 MW facility, purpose-built for large-scale AI training and inference workloads, increases Applied Digital's total contracted lease revenue to $31 billion across four campuses, or $73 billion with all renewal options. Initial operations at Polaris Forge 3 are expected to begin in August 2027.

Applied Digital Corporation announced the closing of its transaction to contribute its cloud business to EKSO Bionics Holdings, Inc. As a result, EKSO Bionics changed its name to ChronoScale Corporation and will trade under the ticker "CHRN." Applied Digital received approximately 138 million shares of ChronoScale common stock and invested an additional $15.75 million for 1.4 million shares, resulting in a 97% ownership stake. This strategic separation aims to allow each business to be capitalized and scaled appropriately, with ChronoScale focusing on AI compute platforms.