$1.59B Senior Secured Notes for Polaris Forge 1 Building 4
Company: Applied Digital - Project: Polaris Forge 1
The claim, verbatim
$1.59 billion offering of 7.0% Senior Secured Notes due 2031 to fund 150 MW Building 4 construction at Polaris Forge 1
Source (primary)
Earnings Release (IR page (ir.applieddigital.com), earnings_call)
View cached copy (2026-09-25)Live source ↗Archive.org ↗
Quote: “Closed $1.59 billion of 7.000% Senior Secured Notes due 2031 (issued at par) through our subsidiary APLD ComputeCo 3 LLC. Proceeds from this offering were used to repay the $300 million bridge facility and will fund the construction of the fourth building (150 MW), at Polaris Forge 1.”
How we checked this
Checked on October 12, 2026. The cited source supports every part of this claim.
The release describes the $1.59 billion 7.000% notes due 2031 and states the proceeds will fund the 150 MW fourth building at Polaris Forge 1.
Confirmed in the source:
- Applied Digital closed $1.59 billion of Senior Secured Notes
- The notes carry a 7.000% coupon and are due 2031
- Proceeds will fund construction of the fourth building (150 MW) at Polaris Forge 1
What we did: Read our cached copy of IR page (ir.applieddigital.com) (https://ir.applieddigital.com/news-events/press-releases/detail/159/applied-digital-reports-fiscal-fourth-quarter-and-full-year/) in full (55,619 characters, retrieved September 25, 2026) and checked each assertion in the claim against it.
Additional evidence
confirms Earnings Release
Quote: “Closed $1.59 billion of 7.000% Senior Secured Notes due 2031 (issued at par) through our subsidiary APLD ComputeCo 3 LLC. Proceeds from this offering were used to repay the $300 million bridge facility and will fund the construction of the fourth building (150 MW), at Polaris Forge 1.”