Latham & Watkins Advises on Applied Digital’s US$2.15 Billion Senior Secured Notes Offering

Applied Digital Corporation (Nasdaq: APLD), a leading designer, builder, and operator of high-performance, sustainably engineered data centers and colocation services for artificial intelligence, networking, and blockchain workloads, announced that its subsidiary, APLD ComputeCo 2 LLC, priced a US$2.15 billion offering of 6.750% senior secured notes due 2031 at an issue price of 98%. The notes were 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, and outside the United States to non-US persons in reliance on Regulation S under the Securities Act. The offering closed on March 10, 2026.

Latham & Watkins LLP represented the initial purchasers in the offering with a corporate team led by partners Greg Rodgers, Benjamin Stern, and Brittany Ruiz, with associates Kathleen Mehary, Paul Lau, and Samuel Vallejo, and assistance from Jen Kim. Advice was also provided on real estate matters by partners Douglas Heitner, David Freedman, Michael Rechtin, and Becky Landau and counsels Matthew Root, Karen Ritter, and Tori Campbell, with associates Yerin Yang and Chloe Francis; on environmental matters by partner Aron Potash, with associates Cody Kermanian and Phil Goldberg; on tax matters by partner Ana O’Brien and counsel William Kessler; on project development and finance matters by partners Chirag Dedania and Natasha Gianvecchio; and on banking matters by associate Amber Morrow.