Facility proceeds to fund Ellendale HPC Campus
Company: Applied Digital - Project: Polaris Forge 1
The claim, verbatim
The company plans to use proceeds from facility draws to fund development of the Ellendale HPC Campus and for general corporate purposes.
Source (primary)
applied-digital 8-K exhibit (ex99-1.htm) (SEC EDGAR (8-K Ex), press_release)
View cached copy (2026-10-16)Live source ↗
Quote: “The Company plans to use the proceeds from draws under the Facility to fund development of the Ellendale HPC Campus and for general corporate purposes.”
How we checked this
Checked on October 17, 2026. The cited source supports every part of this claim.
The press release states both planned uses of the proceeds.
Confirmed in the source:
- The company plans to use proceeds from facility draws to fund development of the Ellendale HPC Campus
- The company plans to use proceeds for general corporate purposes
What we did: Read our cached copy of SEC EDGAR (8-K Ex) (https://www.sec.gov/Archives/edgar/data/1144879/000164117225008007/ex99-1.htm) in full (7,466 characters, retrieved October 16, 2026) and checked each assertion in the claim against it.
Additional evidence
confirms applied-digital 8-K exhibit (ex99-1.htm)
Quote: “The Company plans to use the proceeds from draws under the Facility to fund development of the Ellendale HPC Campus and for general corporate purposes.”