$5.2B Delta Forge Lease Secured by Applied Digital, Bolstered by $350M Revolver
Summary
Applied Digital secured a 15-year take-or-pay lease for its Delta Forge 2 facility, projected to generate $5.2 billion in base-term revenue. This provides critical financial detail for the 210 MW lease announced on June 8th. The company also closed a new $350 million revolving credit facility, expandable to $550 million, arranged by Goldman Sachs. This substantial financing provides crucial capital for the company's ongoing data center build-out and general corporate purposes, supporting its rapid expansion in high-performance computing. Operations for the Delta Forge 2 lease are expected to begin in Q1 2028.
At the time of this announcement, APLD was trading at $44.51 on NASDAQ in the Technology sector, with a market capitalization of approximately $11.7B. The 52-week trading range was $9.02 to $50.73. This news item was assessed with positive market sentiment and an importance score of 9 out of 10. Source: Wiseek News.