$1.59 billion Senior Secured Notes offering
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 subsidiary APLD ComputeCo 3 LLC, with proceeds funding the fourth building (150 MW) at Polaris Forge 1.
Source (primary)
Earnings Release (IR page (ir.applieddigital.com), earnings_call)
View cached copy (2026-09-01)Live source ↗Archive.org ↗
Quote: “Closed $1.59 billion of 7.000% Senior Secured Notes due 2031 (issued at par) through our subsidiary APLD ComputeCo 3 LLC. Proceeds from this offering were used to repay the $300 million bridge facility and will fund the construction of the fourth building (150 MW), at Polaris Forge 1.”
How we checked this
Checked on October 10, 2026. The cited source supports every part of this claim.
The press release states the amount, coupon, maturity, issue price, issuing subsidiary and the Polaris Forge 1 building use 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 will fund construction of the fourth building (150 MW) at Polaris Forge 1
What we did: Read our cached copy of IR page (ir.applieddigital.com) (https://ir.applieddigital.com/news-events/press-releases/detail/159/applied-digital-reports-fiscal-fourth-quarter-and-full-year/) in full (55,581 characters, retrieved September 1, 2026) and checked each assertion in the claim against it.
Additional evidence
confirms Earnings Release
Quote: “Closed $1.59 billion of 7.000% Senior Secured Notes due 2031 (issued at par) through our subsidiary APLD ComputeCo 3 LLC. Proceeds from this offering were used to repay the $300 million bridge facility and will fund the construction of the fourth building (150 MW), at Polaris Forge 1.”