Applied Digital Secures Additional Financing
Summary
The Company intends to use the loan, which has a two-year term and 12.5% interest rate, to provide additional liquidity to fund the buildout of its HPC data centers. Additionally, the Company has secured $16 million in site-level financing for its Jamestown HPC facility, which is expected to close in the coming weeks.This capital will allow us to continue building our new Ellendale HPC facility and meet our schedule while we finalize our larger project-level financing. Follow us on Twitter at @APLDdigital.Forward-Looking Statements This release contains "forward-looking statements" as defined in the Private Securities Litigation Reform Act of 1995 regarding, among other things, future operating and financial performance, product development, market position, business strategy and objectives. These statements are based on current expectations of future events and thus are inherently subject to uncertainty. These risks, uncertainties, and other factors include: decline in demand for our products and services; the volatility of the crypto asset industry; the inability to comply with developments and changes in regulation; cash flow and access to capital; and maintenance of third party relationships.