Proceeds to fund Ellendale HPC data center construction
Company: Applied Digital - Project: Polaris Forge 1
The claim, verbatim
The company intends to use the net proceeds from the debenture, supplemented by proceeds from the announced sale of its Garden City facility, to finance substantial advancement of construction of its HPC data center in Ellendale, North Dakota.
Source (primary)
applied-digital 8-K exhibit (apld-yorkvilleprx33124.htm) (SEC EDGAR (8-K Ex), press_release)
View cached copy (2026-11-08)Live source ↗
Quote: “We intend to use the net proceeds from the private financing, supplemented by the proceeds from our announced sale of the Garden City facility, to finance substantial advancements in our construction phase of the HPC data center in Ellendale, North Dakota.”
How we checked this
Checked on November 10, 2026. The cited source supports every part of this claim.
The CFO's statement in the release says the net proceeds from the debenture financing, plus proceeds from the announced Garden City sale, will fund substantial advancement of Ellendale HPC data center construction.
Confirmed in the source:
- The company intends to use the net proceeds from the private financing in which it issued the debenture
- Those proceeds are to be supplemented by proceeds from the announced sale of its Garden City facility
- The funds are intended to finance substantial advancements in the construction phase of its HPC data center in Ellendale, North Dakota
What we did: Read our cached copy of SEC EDGAR (8-K Ex) (https://www.sec.gov/Archives/edgar/data/1144879/000114487924000061/apld-yorkvilleprx33124.htm) in full (5,644 characters, retrieved November 8, 2026) and checked each assertion in the claim against it.
Additional evidence
confirms applied-digital 8-K exhibit (apld-yorkvilleprx33124.htm)
Quote: “We intend to use the net proceeds from the private financing, supplemented by the proceeds from our announced sale of the Garden City facility, to finance substantial advancements in our construction phase of the HPC data center in Ellendale, North Dakota.”