Lowenstein Sandler represented Applied Digital (Nasdaq: APLD), a designer, builder, and operator of next-generation digital infrastructure for High Performance Computing (“HPC”) applications, in a $150 million convertible preferred equity facility to advance the development of its Ellendale multi-building HPC data center campus. The private financing arrangement allows Applied Digital to sell up to $150 million of the new convertible preferred stock to investors.

Applied Digital will use the proceeds from draws under the facility to fund development of the Ellendale HPC Campus and the continued build out of existing data centers.

In the past 14 months, Lowenstein has represented Applied Digital in numerous transactions, including:

The Lowenstein deal team included Steven E. Siesser, Brooke A. Gillar, Emily Jewell, James O’Grady, Marianna Shelenkova, Sophia Mokotoff, Donna Calia, Nicola E. Perzichilli, and Amanda N. Pappas.

About Lowenstein Sandler LLP
Lowenstein Sandler is a national law firm with over 350 lawyers based in New York, Palo Alto, New Jersey, Utah, and Washington, D.C. The firm represents leaders in virtually every sector of the global economy, with particular emphasis on investment funds, life sciences, and technology. Recognized for its entrepreneurial spirit and high standard of client service, the firm is committed to the interests of its clients, colleagues, and communities.