Senior Secured Notes offering for Polaris Forge 2
Company: Applied Digital - Project: Polaris Forge 2
The claim, verbatim
Applied Digital completed a $2.15 billion private offering of 6.750% Senior Secured Notes due 2031, issued through subsidiary APLD ComputeCo 2 LLC at 98% of par, with proceeds funding development and construction of 200 MW at Polaris Forge 2.
Source (primary)
applied-digital 8-K exhibit (apldq326earningsrelease.htm) (SEC EDGAR (8-K Ex), press_release)
View cached copy (2026-09-10)Live source ↗
Quote: “Completed a $2.15 billion private offering of 6.750% Senior Secured Notes due 2031, issued at 98% of par through its subsidiary APLD ComputeCo 2 LLC. Proceeds will fund the development and construction of 200 MW of critical IT load at the Polaris Forge 2 AI Factory campus in Harwood, North Dakota.”
How we checked this
Checked on September 20, 2026. The cited source supports every part of this claim.
Every element of the offering is stated in the source.
Confirmed in the source:
- Applied Digital completed a $2.15 billion private offering of 6.750% Senior Secured Notes due 2031
- The notes were issued at 98% of par through subsidiary APLD ComputeCo 2 LLC
- Proceeds fund development and construction of 200 MW of critical IT load at Polaris Forge 2
What we did: Read our cached copy of SEC EDGAR (8-K Ex) (https://www.sec.gov/Archives/edgar/data/1144879/000114487926000029/apldq326earningsrelease.htm) in full (46,258 characters, retrieved September 10, 2026) and checked each assertion in the claim against it.
Additional evidence
confirms applied-digital 8-K exhibit (apldq326earningsrelease.htm)
Quote: “Completed a $2.15 billion private offering of 6.750% Senior Secured Notes due 2031, issued at 98% of par through its subsidiary APLD ComputeCo 2 LLC. Proceeds will fund the development and construction of 200 MW of critical IT load at the Polaris Forge 2 AI Factory campus in Harwood, North Dakota.”