Applied Digital Corporation (APLD) filed an 8-K/A to amend previous agreements with CoreWeave, Inc. (CoreWeave Parent) for two data centers (ELN-02 and ELN-03) at its Polaris Forge 1 campus in Ellendale, North Dakota. CoreWeave Parent is refinancing its debt obligations for ELN-02 (100 MW) and ELN-03 (150 MW), which received an investment-grade credit rating of A3, significantly better than CoreWeave Parent's corporate rating of BB. For ELN-02, the original lease was amended to suspend the term for two of four data halls, and a new lease (ELN-02 SPV Lease) was entered into with CoreWeave Compute Acquisition Co. VIII, LLC (CoreWeave SPV), a wholly-owned subsidiary of CoreWeave Parent, for those two halls. CoreWeave Parent provided an Unconditional Springing Guaranty of Payment and Performance (ELN-02 Guaranty) for CoreWeave SPV's obligations under the ELN-02 SPV Lease. CoreWeave Parent is also obligated to provide a $50,000,000 letter of credit within 30 days to secure obligations under the ELN-02 Parent Lease. For ELN-03, CoreWeave Parent assigned all rights and obligations under the original lease (ELN-03 Parent Lease) to CoreWeave SPV via an Assignment, Assumption and Consent Agreement. CoreWeave Parent provided an Unconditional Springing Guaranty of Payment and Performance (ELN-03 Guaranty) for CoreWeave SPV's obligations under the ELN-03 Parent Lease. The Company believes these transactions are favorable to holders of its 9.250% notes due 2030 due to the enhanced credit ratings and additional credit support.