Lowenstein Sandler LLP represented Applied Digital Corporation (NASDAQ: APLD), a designer, builder, and operator of high-performance, sustainably engineered data centers and colocation services for artificial intelligence, cloud, networking, and blockchain workloads, and certain of its subsidiaries, including APLD ComputeCo 3 LLC, in the closing of a $300 million senior secured bridge facility led by Goldman Sachs Bank USA.
APLD ComputeCo 3 LLC intends to use the net proceeds from the facility to fund the continued development and construction of 150 megawatts of critical IT load for the Company’s third AI data center at its Polaris Forge 1 campus in Ellendale, North Dakota. Applied Digital expects to seek additional financing to fund the completion of construction.
The Lowenstein deal team included Steven E. Siesser, Lowell A. Citron, Kevin Colan, Daniel A. Suckerman, Melissa K. Parres, Elena Scialabba, Zachary T. Benaharon, Yvette Yun, Billy Fausto Michaca, Chelsea Wong, and Katherine E. Hewitt.
