$2.15B 6.750% Senior Secured Notes offering
Company: Applied Digital - Project: Polaris Forge 2
The claim, verbatim
Completed $2.15 billion private offering of 6.750% Senior Secured Notes due 2031 (issued at 98% par) through subsidiary APLD ComputeCo 2 LLC, with proceeds funding development of 200 MW critical IT load at Polaris Forge 2.
Source (primary)
EX-99.1 (IR page (ir.applieddigital.com), earnings_call)
View cached copy (2026-09-01)Live source ↗
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 release states every element of this claim in its Recent Highlights section.
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
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: “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.”