$1.59B 7.000% 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; proceeds used to repay $300M bridge and fund 150 MW fourth building at Polaris Forge 1.
Source (primary)
EX-99.1 (IR page (ir.applieddigital.com), earnings_call)
View cached copy (2026-09-01)Live source ↗
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 release's Subsequent to the Quarter section states every element of this claim.
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 were used to repay the $300 million bridge facility
- Proceeds will fund construction of the 150 MW fourth building at Polaris Forge 1
What we did: Read our cached copy of IR page (ir.applieddigital.com) (https://ir.applieddigital.com/sec-filings/all-sec-filings/content/0001144879-26-000044/apldq426earningsreleaseasf.htm) in full (54,584 characters, retrieved September 1, 2026) and checked each assertion in the claim against it.
Additional evidence
confirms EX-99.1
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.”