$1.59B 7% senior secured notes due 2031
Company: Applied Digital - Project: Polaris Forge 1
The claim, verbatim
In June closed a $1.59 billion offering of 7% senior secured notes due 2031 to fund the third HPC building at Polaris Forge 1 and repay a $300 million bridge facility.
Source (primary)
Applied Digital Q1 Earnings Call Highlights - Yahoo Finance (-, news_article)
View cached copy (2026-10-09)Live source ↗Archive.org ↗
Quote: “In June, the company closed a $1.59 billion offering of 7% senior secured notes due in 2031”
How we checked this
Checked on October 14, 2026. The cited source supports every part of this claim.
The article reports the June closing of $1.59 billion of 7% senior secured notes due 2031, used to fund the third Polaris Forge 1 HPC building and repay a $300 million bridge facility.
Confirmed in the source:
- In June Applied Digital closed a $1.59 billion offering of senior secured notes
- The notes carry a 7% rate
- The notes are due in 2031
- Proceeds fund the third HPC building at Polaris Forge 1
- Proceeds repay a $300 million bridge facility
What we did: Read our cached copy of the publisher (https://finance.yahoo.com/markets/stocks/articles/applied-digital-q1-earnings-call-000214656.html) in full (15,656 characters, retrieved October 9, 2026) and checked each assertion in the claim against it.
Additional evidence
confirms Applied Digital Q1 Earnings Call Highlights - Yahoo Finance
Quote: “In June, the company closed a $1.59 billion offering of 7% senior secured notes due in 2031”