$1.59B 7.000% Senior Secured Notes due 2031
Company: Applied Digital - Project: Polaris Forge 1
The claim, verbatim
Closed $1.59 billion of 7.000% Senior Secured Notes due 2031, issued at par through APLD ComputeCo 3 LLC, to fund construction of the third 150 MW HPC building at Polaris Forge 1 and repay the $300 million bridge facility.
Source (primary)
applied-digital 8-K exhibit (apldq127earningsrelease.htm) (SEC EDGAR (8-K Ex), press_release)
View cached copy (2026-10-08)Live source ↗
Quote: “Closed $1.59 billion of 7.000% Senior Secured Notes due 2031, issued at par through subsidiary APLD ComputeCo 3 LLC, to fund construction of the third HPC building (150 MW) at Polaris Forge 1 and to repay the $300 million bridge facility”
How we checked this
Checked on October 13, 2026. The cited source supports every part of this claim.
The release describes the notes offering with the same amount, rate, maturity, issuer and uses of proceeds.
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
- The notes were issued at par
- The notes were issued through subsidiary APLD ComputeCo 3 LLC
- Proceeds are to fund construction of the third HPC building (150 MW) at Polaris Forge 1
- Proceeds are to repay the $300 million bridge facility
What we did: Read our cached copy of SEC EDGAR (8-K Ex) (https://www.sec.gov/Archives/edgar/data/1144879/000114487926000057/apldq127earningsrelease.htm) in full (40,083 characters, retrieved October 8, 2026) and checked each assertion in the claim against it.
Additional evidence
confirms applied-digital 8-K exhibit (apldq127earningsrelease.htm)
Quote: “Closed $1.59 billion of 7.000% Senior Secured Notes due 2031, issued at par through subsidiary APLD ComputeCo 3 LLC, to fund construction of the third HPC building (150 MW) at Polaris Forge 1 and to repay the $300 million bridge facility”