Lowenstein Sandler LLP represented Applied Digital (Nasdaq: APLD), a leading designer, builder and operator of high-performance, sustainably engineered data centers and colocation services for Artificial Intelligence (“AI”), networking, and blockchain workloads in the pricing by its subsidiary APLD ComputeCo 2 LLC of a $2.15 billion offering of 6.750 percent senior secured notes due 2031 at an issue price of 98 percent.
APLD ComputeCo 2 LLC intends to use the net proceeds from the offering to fund the development and construction of 200 megawatts of critical IT load at Polaris Forge 2, its AI factory campus in Harwood, North Dakota.
The Lowenstein deal team included Steven E. Siesser, Lowell A. Citron, Daniel L. Forman, Michael Walutes, Brooke A. Gillar, Daniel A. Suckerman, Kevin Colan, Marianna Shelenkova, Evyn W. Rabinowitz, Elena Scialabba, Perry Laub, Zachary T. Benaharon, Christopher M. Cozzens, Billy Fausto Michaca, Anna D’Eramo, Victoria Jin, and Chelsea Wong.
