$2.15 billion Senior Secured Notes offering
Company: Applied Digital - Project: Polaris Forge 2
The claim, verbatim
Completed a $2.15 billion private offering of 6.750% Senior Secured Notes due 2031 (issued at 98% of par) through subsidiary APLD ComputeCo 2 LLC, with proceeds funding development of 200 MW of critical IT load at Polaris Forge 2 in Harwood, North Dakota.
Source (primary)
Earnings Release (IR page (ir.applieddigital.com), earnings_call)
View cached copy (2026-09-01)Live source ↗Archive.org ↗
Quote: “Completed a $2.15 billion private offering of 6.750% Senior Secured Notes due 2031 (issued at 98% of par) through its subsidiary APLD ComputeCo 2 LLC. Proceeds will fund development of 200 MW of critical IT load at Polaris Forge 2 in Harwood, North Dakota.”
How we checked this
Checked on October 10, 2026. The cited source supports every part of this claim.
The press release states the offering size, coupon, maturity, issue price, issuing subsidiary and use of proceeds exactly as claimed.
Confirmed in the source:
- Applied Digital completed a $2.15 billion private offering of Senior Secured Notes
- The notes carry a 6.750% coupon and are due 2031
- The notes were issued at 98% of par
- The notes were issued through subsidiary APLD ComputeCo 2 LLC
- Proceeds will fund development of 200 MW of critical IT load at Polaris Forge 2 in Harwood, North Dakota
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: “Completed a $2.15 billion private offering of 6.750% Senior Secured Notes due 2031 (issued at 98% of par) through its subsidiary APLD ComputeCo 2 LLC. Proceeds will fund development of 200 MW of critical IT load at Polaris Forge 2 in Harwood, North Dakota.”