Applied Digital expanded its financing capacity through two material agreements. The company upsized its secured revolving credit facility to $430.0 million via an incremental assumption agreement, extending availability through May 28, 2029 and maintaining options for an additional $120.0 million in commitments. Separately, Applied Digital increased the aggregate commitment under its Preferred Equity Purchase Agreement for Series G Convertible Preferred Stock to $2.0 billion from $1.59 billion, enhancing equity funding flexibility. Management expects these steps to bolster liquidity and support ongoing data center development and growth initiatives.
Agreement 1: Applied Digital Expands Revolving Credit Facility to $430 Million, Maturing 2029
- Agreement type: Secured revolving credit facility (amended and upsized)
- Counterparty: First National Bank of Omaha and other lenders
- Signed / Effective: Jun 26 2026 / same
- Duration / Termination: Through May 28 2029
- Reason: Expand revolver and support data center development financing
Agreement 2: Applied Digital Increases Series G Preferred Equity Commitment to $2.0 Billion
- Agreement type: Amendment to Preferred Equity Purchase Agreement for Series G Convertible Preferred Stock
- Counterparty: PEPA investors
- Signed / Effective: Jun 26 2026 / same
- Duration / Termination: At will
- Reason: Increase availability for funding growth and projects
Original SEC Filing:
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