ELN-02 Project completion deadline
Company: Applied Digital - Project: Polaris Forge 1
What the later record shows
Delivered on time · happened October 31, 2025
ELN-02 is the first 100 MW building, which was fully energized and completed on schedule. Filings date its completion to October 2025, or November 2025 in some 10-Qs; both are before the December 6, 2025 deadline.
“Achieved Ready‑for‑Service at Polaris Forge 1, delivering 100 MW on schedule and fully energizing the first building (ELN-02), marking completion of the first of three contracted buildings”
2026-01-06 · applied-digital 8-K exhibit (apldq226earningsrelease.htm) View cached copy (2026-09-22)Live source ↗
“The first lease is for the full capacity of our 100 MW data center that was completed and became operational in October 2025”
2026-01-07 · Applied Digital 10-Q filed 2026-01-08 View cached copy (2026-08-31)Live source ↗
Checked October 9, 2026 against filings, releases and reporting published after the claim was made. Quotes are verbatim from the linked documents.
The claim, verbatim
If the ELN-02 Project is not completed by December 6, 2025, the borrower must mandatorily prepay the full outstanding principal balance of the promissory note together with accrued interest.
Source (primary)
Applied Digital 8-K filed 2024-12-02 (SEC EDGAR, sec_filing)
View cached copy (2026-08-31)Live source ↗
Quote: “to the extent that the ELN-02 Project (as defined therein) is not completed by December 6, 2025, the Borrower must mandatorily prepay the full outstanding principal balance of the Promissory Note together with accrued interest”
How we checked this
Checked on October 10, 2026. The cited source supports every part of this claim.
The filing states this mandatory prepayment requirement directly, including the December 6, 2025 completion deadline and the accrued interest.
Confirmed in the source:
- If the ELN-02 Project is not completed by December 6, 2025, the borrower must mandatorily prepay the full outstanding principal balance of the promissory note
- The mandatory prepayment must include accrued interest to the date of prepayment
What we did: Read our cached copy of SEC EDGAR (https://www.sec.gov/Archives/edgar/data/1144879/000149315224048226/form8-k.htm) in full (12,593 characters, retrieved August 31, 2026) and checked each assertion in the claim against it.
Additional evidence
confirms Applied Digital 8-K filed 2024-12-02
Quote: “to the extent that the ELN-02 Project (as defined therein) is not completed by December 6, 2025, the Borrower must mandatorily prepay the full outstanding principal balance of the Promissory Note together with accrued interest”
confirms Applied Digital 10-Q filed 2026-01-08
Quote: “The first lease is for the full capacity of our 100 MW data center that was completed and became operational in October 2025”
confirms applied-digital 8-K exhibit (apldq226earningsrelease.htm)
Quote: “Achieved Ready‑for‑Service at Polaris Forge 1, delivering 100 MW on schedule and fully energizing the first building (ELN-02), marking completion of the first of three contracted buildings”