Latham & Watkins Advises Initial Purchasers in Applied Digital US$2.35 Billion Senior Secured Notes Offering

"Latham & Watkins LLP represented the initial purchasers in Applied Digital subsidiary APLD ComputeCo LLC’s US$2.35 billion offering of 9.25% senior secured notes due 2030 at an issue price of 97%. The private Rule 144A offering to qualified institutional buyers is expected to close on or around November 20, 2025, subject to market and other conditions."

Latham & Watkins LLP represented the initial purchasers in the transaction, and Applied Digital Corporation's subsidiary APLD ComputeCo LLC acted as issuer. Applied Digital Corporation (NASDAQ: APLD), a leading designer, builder, and operator of high-performance, sustainably engineered data centers and colocation services for artificial intelligence, cloud, networking, and blockchain workloads, announced that its subsidiary APLD ComputeCo LLC has priced a US$2.35 billion offering of 9.25% senior secured notes due 2030 at an issue price of 97%. The notes will be sold in a private offering to persons reasonably believed to be qualified institutional buyers in reliance on Rule 144A under the Securities Act of 1933. The offering is expected to close on or around November 20, 2025, subject to market and other conditions. Latham & Watkins LLP represented the initial purchasers with a team composed by: partners Benjamin Stern, Greg Rodgers, and Brittany Ruiz (corporate team lead); associates Kathleen Mehary, Alex Gulino, and Sam Berry (corporate associates); partner David Siegel and associate Amber Morrow (finance matters); counsel Karen Ritter (real estate matters); and partner Ana O’Brien and counsel William Kessler, with associate Joe Marcus (tax matters).

Latham & Watkins Advises Initial Purchasers in Applied Digital US$2.35 Billion Senior Secured Notes Offering

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